Finnfund provides 15 million US dollar loan to Ipak Yuli Bank in Uzbekistan
In Uzbekistan, access to finance for small and medium enterprises has been limited and the status of self-employed entrepreneurs has not been recognised, often leaving them outside formal finance. Ipak Yuli is one of the leading privately owned commercial banks in Uzbekistan focusing on private sector financing. With Finnfund’s 15 million US dollar senior loan, the bank can continue to develop their business with micro, small and medium sized enterprises. “We are happy to sign our first deal with Finnfund. We look forward to long-term partnership in the area of supporting and increasing