TASHKENT, Uzbekistan, April 17. The European Bank for Reconstruction and Development (EBRD) plans to sign an agreement with Uzbekistan’s Ipak Yuli Bank on granting a loan worth $10 million in May, a source from EBRD told Trend.
According to the EBRD, the loan will be provided under the Youth in Business for Central Asia program and in two equal tranches of $5 million.
The duration of the loan will be 3 years.
The funds will be used for on-lending to eligible youth-led micro, small, and medium enterprises in line with standard eligibility criteria.
Comprehensive technical support will be provided to Ipak Yuli Bank in order to increase its internal capacity to fund young enterprises and facilitate better access to financing for Uzbek youth entrepreneurs.
Meanwhile, the current loan portfolio of the EBRD projects in Uzbekistan has totaled 2.4 billion euros as of January 31, 2023.
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).