TASHKENT, Uzbekistan, April 16. The European Bank for Reconstruction and Development (EBRD) granted a loan of $4 million to Uzbekistan's Fortuna Business microfinance organization, Trend reports.
According to EBRD, the loan will be allocated to support individual entrepreneurs and small and medium-sized businesses in Uzbek regions.
Uzbekistan plans to use up to 65 percent of the loan to finance individual entrepreneurs and micro, small, and medium enterprises outside Tashkent. In addition, up to 35 percent of the money is planned to support women's businesses.
The duration of the loan will be total two and a half years. Half of the amount will be available after signing the agreement, and the rest will be disbursed later, according to the decision of the EBRD.
Meanwhile, the loan portfolio of the EBRD projects in Uzbekistan has totaled 2.4 billion euros as of January 31, 2024.
In particular, the EBRD's loan portfolio is calculated for the implementation of 81 projects.
The majority of the portfolio, 76 percent ($1.8 billion), focuses on sustainable infrastructure. The remaining 17 percent ($406 million) is directed toward industry, commerce, and agribusiness, while financial institutions account for 8 percent ($182 million).