TASHKENT, Uzbekistan, June 4. The Multilateral Investment Guarantee Agency (MIGA), a member of the World Bank Group, guarantees a loan in the amount of 114 million euros to the National Bank of Uzbekistan, Trend reports.
According to MIGA, the National Bank of Uzbekistan will implement the loan to foster the growth of small and medium enterprises across various sectors, including agribusiness, wholesale, and manufacturing.
Given the social impact of these SMEs’ growth plans, Standard Chartered (the UK's multinational bank) structured the financing in accordance with the Social Loan Principles (SLPs). The SLPs are designed to establish a high-level framework of market standards and guidelines, ensuring a consistent methodology within the social loan market.
Standard Chartered served as the mandated lead arranger, social loan coordinator, bookrunner, original lender, structuring bank, and facility agent. Germany's Landesbank Baden Württemberg (a commercial bank) also participated as a lender and mandated lead arranger.
Earlier in 2023, the National Bank of Uzbekistan and Standard Chartered concluded an agreement to attract a credit line in the amount of $100 million.
With the support of the Multilateral Investment Guarantee Agency (MIGA), the credit line from Standard Chartered will be directed towards financing investment projects in small and medium-sized businesses in sectors such as alternative energy, electrical engineering, textiles, transportation, telecommunications, and others.