BAKU, Azerbaijan, May 14
By Ilkin Seyfaddini - Trend:
Uzpromstroybank signed a $20-million loan agreement with OPEC Fund for International Development (OFID), Trend reports with reference to the bank.
The funds will be used to finance various sectors of the country's economy, such as agriculture, healthcare, construction and textile industry, the message said.
OFID should help expand loan portfolio for small businesses and private enterprise through more than 23,000 clients of the bank.
Uzpromstroybank is one of the banks that will be privatized as part of the reform of Uzbekistan's banking system adopted on May 12, 2020.
OFID and Uzbekistan have been cooperating in the field of social and economic development for over twenty years.
Earlier, the European Bank for Reconstruction and Development allocated a package of up to $150 million to Asakabank and Uzpromstroybank within the EBRD Trade Facilitation Program.
Earlier, international rating agency S&P Global Ratings confirmed credit ratings of Uzpromstroybank ("BB-/B"). The outlook for the ratings of Uzpromstroibank was confirmed at the level of "Stable".
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