AKIPRESS.COM - The EBRD is providing a boost to domestic importers and exporters in Uzbekistan by opening a limit of up to US$ 20 million under the EBRD’s Trade Facilitation Programme (TFP) to Asaka bank.

The trade finance facility will help Asaka bank support import and export transactions, further develop its correspondent banking services and strengthen its trade finance product range.

Trade Facilitation Programme will provide access to finance for exporters and importers, including SMEs, strengthen local capacity in compliance and advance trade finance skills. The focus will be to support private sector transactions and facilitate trade for the “green” technologies, materials and services.

Following the reengagement with Uzbekistan in 2017, the EBRD TFP team has delivered 2 regional conferences and 6 training workshops, which were attended by approximately 500 domestic banking professionals. During 2019-2020 the EBRD will be working with the government to improve legislation and regulation in support of enhanced business environment for international trade finance products, including factoring and financial technologies.

To date, the EBRD has invested €1.3 billion through 70 projects in the economy of Uzbekistan.