▲ Up
 akipress
00:41 22-11-2018
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 | 1684

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
17:31 ADB to allocate $36.5 million to improve wastewater management in lakeshore areas in Kyrgyzstan17:14 Ancient termite megapolis as large as Britain found in Brazil17:00 Toll roads will bring only 500 million soms to budget, but won't solve problem of money deficit: Ministry16:52 Interpol elects South Korea's Kim Jong-yang as president16:49 Secretaries of Russian, Kyrgyzstan Security Councils discuss military and technical cooperation16:44 Kyrgyzstan presents national policy aimed to prevent violent extremism at UNAOC Forum in New York16:37 9 Kyrgyz athletes win in 7th round of West Asia Youth Chess Championship16:34 Main suspect of foreign cyclists' killings gets life in prison in Tajikistan16:29 Tekebayev not to ask pardoning – Ata Meken party leader16:28 US man 'killed in India by endangered Andamans tribe'16:08 Bishkek lost 2 huge parks since 199116:05 President Jeenbekov suggests awarding Hero Title to Chairman of Council of Ministers of Soviet Kyrgyzstan posthumously15:45 Delegates of upcoming Kurultai suggest to rename Kyrgyzstan15:42 It is necessary to change aerodynamics in city: Environmentalist15:38 IMF projects Uzbekistan’s consumer price index inflation to rise to 17% by end of 201915:35 Shortfall from land resource management in Bishkek reached 500 million soms: MP15:34 Uzbekistan’s GDP continued to expand at about 5%15:31 Uzbekistan’s import and export data show signs of overheating economy – IMF15:02 Batken region's deputy prosecutors suspended after prosecutor's murder14:59 Problems of access to safe abortion medical services discussed in Bishkek
© 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