MIGA and ODDO BHF Launch Trade Finance Support for Mikrokreditbank in Uzbekistan

Tashkent, Uzbekistan (UzDaily.com) — The Multilateral Investment Guarantee Agency (MIGA), part of the World Bank’s guarantee platform, and the German bank ODDO BHF have signed a framework agreement on trade finance guarantees to insure against payment risks in commercial transactions. This partnership will enable Mikrokreditbank of Uzbekistan to provide short-term revolving loans.

Backed by MIGA guarantees, the credit line of up to US$50 million will allow Mikrokreditbank to lend to microenterprises, small and medium-sized enterprises (SMEs), and companies engaged in export-import activities. The bank has committed to directing 70% of loans to SMEs, 50% to women-owned enterprises, and 21% to “green” projects.

“Trade is a key element of any economy, and trade guarantees provided by the World Bank can act as an important catalyst,” said MIGA Managing Director Tsutomu Yamamoto. “Our collaboration with ODDO will help close the trade finance gap in Uzbekistan and support economic growth and job creation.”

International trade plays a crucial role in Uzbekistan’s economic development, fostering employment and enhancing competitiveness. At the same time, the country faces a significant trade finance gap estimated at US$4 billion, with the overall financing gap for small businesses (including trade and other loans) totaling around US$10.5 billion, or roughly 16% of GDP. Bridging these gaps is critical for sustainable trade growth and job creation.

Florian Witt, Head of International and Corporate Banking at ODDO BHF, emphasized: “Our partnership with MIGA and Mikrokreditbank is aimed at supporting importers and exporters even in challenging times, ensuring stability and growth in global trade. This credit line will expand access to trade finance for underserved segments of Uzbekistan’s economy.”