As part of the 32nd Annual Meeting of the EBRD Board of Governors in Samarkand, an agreement was signed between this financial institution and SQB on attracting a credit line for $25 million.

The agreement provides that the loan funds will be used for crediting projects of small and medium-sized businesses operating in Uzbekistan. At the same time, part of the financing can be used to implement green projects, which will allow the bank to expand its green banking program.

This agreement is a logical continuation of active bilateral cooperation between banks. Thus, in recent years, eight bilateral contracts worth over $300 million have been signed with the EBRD, which has financed over 400 projects in trade, small and medium-sized businesses, and green initiatives of the bank's clients.

The parties are also working on the implementation of financial products in the bank's activities, such as the “Green Economy Financing Mechanism” and the “Risk Sharing Mechanism”, which will undoubtedly expand the range of services provided by SQB for small and medium-sized businesses and private entrepreneurship, as well as provide broad access to financing enterprises involved in the production and provision of services.

In addition, the EBRD and the IFC provide comprehensive assistance in the bank’s transformation process and its preparation for further privatization.

UzA