▲ Up
 akipress
08:46 15-11-2018
АКИpress CA-News Tazabek Turmush
ADVERTISE WITH US SUBSCRIBE
KazakhstanKyrgyzstanMongoliaTajikistanTurkmenistanUzbekistanWorld
POLITICSBUSINESSINCIDENTSSOCIETYCULTURESPORTANALYSISSCIENCE
akipress
EBRD provides funds for MSME support in Uzbekistan
Central Asia | business | 17:42, 03 August 2018 | 1660

AKIPRESS.COM - Strengthening its support for the private sector in Uzbekistan, the EBRD is providing a synthetic local currency loan of up to US$ 5 million to DAVR Bank. This is the first EBRD loan to the bank aimed at expanding access to finance for local micro, small and medium-sized enterprises (MSMEs), EBRD said.

The loan agreement was signed in Tashkent today during a visit by EBRD President Suma Chakrabarti, who said: “Following a new stage of our engagement with Uzbekistan, our Bank has identified several key areas and SME funding is one of them. Today’s signing shows our firm commitment to provide further support to this significant sector of the country’s economy”.

The EBRD loan will allow DAVR bank, a privately owned financial institution in Uzbekistan established in 2001, to further develop its small-business lending practices, expand its client base and offer loans with longer maturities to firms around the country.

DAVR bank will receive technical assistance supported by the Republic of Korea under the Financial Institutions Development Programme in Uzbekistan to strengthen its institutional capacity through the development of SME lending practices and the improvement of risk management.

Between 1992 and 2010, the EBRD invested €894 million in Uzbekistan in 54 projects. Following its re-engagement after significant changes in the country, by the end of 2017 the Bank had signed its first six new operations in Uzbekistan since 2010 for a total of over €153 million.

LATEST NEWS
17:40 World's most excellent airlines for 2019 revealed17:33 Turkmenistan, Uzbekistan discuss key areas of cooperation17:15 President Jeenbekov receives commanders of CIS border troops16:50 Digital CASA: MP says parliament fears endorsing agreements after power plant breakdown16:45 Parliamentary faction leader suggests probe into leakage of personal information during election campaign16:27 MP gifts 3-storey building for school in remote district of Kyrgyzstan16:20 Kyrgyz athlete wins world weight lifting championship and sets world record16:10 Saudi Arabia to provide $30 million to Kyrgyzstan for construction of schools amid their shortage15:58 Pedestrian tunnel for 28mln soms in Osh region to open in December15:17 Calgary votes against Winter Olympics bid15:04 Kyrgyzstani fighter Altynbek Mamashev new WEF welterweight champion14:45 Construction of new building of Taza Suu municipal enterprise begins in Batken14:40 Court closes 1 case against ex-Bishkek mayor Kubanychbek Kulmatov14:36 Special services of Turkic states discuss situation in Afghanistan, Syria14:35 Campaign in honor of World Diabetes Day starts in Batken14:31 $14.6 million out of $20 million of EDB investment for farm machinery leasing disbursed: Deputy PM14:18 Kyrgyz farmers interested in Belarusian farm machinery14:08 Over 5,000 Kyrgyzstanis have diabetes: Health Ministry14:04 Kyrgyzstan, Turkey discuss military cooperation13:48 ADB allocates $500mln loan to strengthen Turkmenistan's electricity supply and boost regional power trade
© AKIpress News Agency - 2001-2018. All rights reserved
Republication of any material is prohibited without a written agreement with AKIpress News Agency. Any citation must be accompanied by a hyperlink to akipress.com.
Our address:
Moskovskaya str. 189, Bishkek, the Kyrgyz Republic
e-mail: english@akipress.org, akipressenglish@gmail.com;
Tel/Fax: +996(312)65-03-06