Bank Ipak Yuli and EBRD sign loan agreement worth US$20 million

Askar Yakubov · 09:06, 17.10.2018 · Updated 23:35 · 352 views

Tashkent, Uzbekistan (UzDaily.uz) -- Bank Ipak Yuli and the European Bank for Reconstruction and Development (EBRD) signed a loan agreement worth US$20 million for lending to small and private businesses on 15 October.

The loan will be provided at expense of the EBRD’s own funds in the amount of US$10 million and the Netherlands Development Bank (FMO) in the amount of US$10 million. Entrepreneurs can get a loan in US dollars or in sums.

Under the agreement, Ipak Yuli Bank will receive technical assistance covering various areas of lending to small and private businesses, as well as risk management as part of the program to develop financial institutions in Uzbekistan.

The EBRD loan will allow Bank Ipak Yuli to diversify its funding base, expand its client base and offer loans with a longer maturity for the country’s enterprises.

Askar Yakubov

Askar Yakubov is a professional photojournalist with extensive experience in news and reportage photography. He specializes in fast-paced coverage of social, political, cultural, international, business, and community events, with a sharp eye for capturing expressive shots and conveying the atmosphere of an event under tight time constraints. His skill set spans reportage, portrait, and documentary photography, along with image editing and color correction, and preparing photo materials for media and digital platforms. He is known for his professionalism, adherence to editorial standards, and ability to work both independently and as part of a shooting team.