EBRD Allocates US$70 Million to Hamkorbank to Support MSMEs in Uzbekistan

Tashkent, Uzbekistan (UzDaily.com) — The European Bank for Reconstruction and Development (EBRD) will provide Hamkorbank, one of the country’s largest private banks, with a loan of up to US$70 million (EUR 60 million) in synthetic local currency.

The funds will be directed toward supporting micro, small and medium-sized enterprises (MSMEs) across the country.

MSMEs play a critical role in Uzbekistan’s economy, generating around half of the gross domestic product and providing employment for nearly 80% of the working-age population. Supporting these enterprises is one of the EBRD’s strategic priorities.

“Supporting the private sector and developing MSMEs directly contribute to economic growth and job creation in Uzbekistan,” the bank noted.

The EBRD has been actively investing in Uzbekistan since the 2010s. To date, the bank has invested more than US$6.5 billion across 193 projects, most of which are aimed at supporting private entrepreneurship and developing infrastructure for small and medium-sized businesses.

Cooperation with Hamkorbank will help expand MSMEs’ access to finance, improve financial instruments, and stimulate sustainable private sector growth in the country.