TASHKENT, Uzbekistan, October 4. Uzbekistan’s Ipak Yuli bank signed an agreement with the International Finance Corporation (IFC) for a loan of up to $42 million to improve access to finance for small businesses and women entrepreneurs in the country, the bank told Trend.
Within the framework of the agreement, 25 percent of the total financing will be allocated to support private enterprises run by women and will help small and medium-sized enterprises to grow and create new jobs.
Meanwhile, Uzbekistan’s Deputy Prime Minister, Minister of Economy and Finance Jamshid Kuchkarov, and representatives of the IFC delegation headed by the Director for Türkiye and Central Asia regions, Wiebke Schlomer, discussed strengthening and expanding mutually beneficial cooperation.
During the meeting, the parties discussed cooperation in the area of public-private partnership, in particular on projects implemented in the area of modernization of electric power networks, education, healthcare, transport, and water management.
Earlier, Uzbekistan and the IFC joined forces to strike a new deal that aims to grease the wheels of the country's legal and regulatory frameworks, making it more enticing for foreign direct investment (FDI) to flow in and give a boost to economic growth.