Bank Ipak Yuli plans to attract loans from the EBRD

Tashkent, Uzbekistan (UzDaily.com) -- Bank Ipak Yuli intends to attract credit resources from the European Bank for Reconstruction and Development (EBRD) in the amount of US$10 million, according to the EBRD website.

It is assumed that these funds can be provided as part of the “Youth in Business” program for Central Asia.

The three-year unsecured loan will be divided into two equal tranches of US$5 million each and will be available in local currency.

These funds will be used to finance projects in the field of small and medium-sized businesses.

Bank Ipak Yuli also plans to attract US$10 million in loans in local currency to finance small and medium-sized business projects. The loan will be provided under the Financial Intermediary Facility (FIF).