BAKU, Azerbaijan, December 2. The European Bank for Reconstruction and Development (EBRD) provides funding for the creation of new development opportunities for grassroots businesses in Uzbekistan, Trend reports, citing the EBRD.
According to the Bank, a financial package of $10 million will be provided to Ipak Yuli Bank, one of the leading private lenders in the country.
The package consists of a senior $6 million loan under the Bank’s Green Economy Financing Facility (GEFF), which will improve access to green technologies for local households and small and medium-sized enterprises (SMEs).
The remaining $4 million is allocated under the EBRD’s Central Asian Women in Business Program, supported by grant funding from the Women Entrepreneurs Finance Initiative (We-Fi).
The London-based bank has already invested around 3.8 billion euros in 121 projects in Uzbekistan.