IFC and Uzpromstroybank Expand Partnership to Support Business in Uzbekistan

Tashkent, Uzbekistan (UzDaily.com) — The International Finance Corporation (IFC) and Uzpromstroybank (SQB) have agreed to expand cooperation in trade finance to support importers and exporters in Uzbekistan.

Under IFC’s Global Trade Finance Program, the limit for SQB has been doubled from US20 million to US$40 million. According to both sides, the decision reflects Uzbekistan’s sustained economic growth, strong export performance, and the dynamic development of domestic investment.

SQB has been a participant in the program since 2021 and last year was recognized as IFC’s fastest-growing banking partner in Central Asia.

“IFC greatly values its partnership with SQB and expects that the increased financing will enable more cross-border trade transactions, improve access to capital for local businesses, and help them grow and create jobs,” said Nathalie Louat, IFC’s Global Director for Trade and Supply Chain Finance.

SQB Chairman Aziz Akbarjonov emphasized that the higher limit will provide an additional boost to trade flows and client services. “This will support strategic industries and the country’s industrial development. As Uzbekistan deepens its integration into global value chains, this agreement will serve as an important instrument in achieving that goal,” he noted.

Since its launch 20 years ago, IFC’s Global Trade Finance Program has issued over US$120 billion in guarantees, focusing on strategic priorities such as job creation and strengthening food security.