Uzbekistan: IFC Invests in Ipak Yuli Bank to Expand Access to Finance for Micro and Small Entrepreneurs

IFC, a member of the World Bank Group, is providing a local currency-linked loan of up to $15 million to Ipak Yuli Bank to expand lending to micro, small and medium-sized enterprises (MSMEs) in Uzbekistan.

IFC’s funding will enable Ipak Yuli Bank to provide its MSMEs clients with working capital loans in local currency, a first financial product of this type in Uzbekistan’s financial market. Such loans enable MSMEs to finance their everyday operations such as purchasing supplies, paying employees, and meeting obligations to clients.

 

International Finance Corporation (IFC)
Monday, November 19, 2018
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