On July 27 this year, the signing ceremony of agreements on the allocation by the European Bank for Reconstruction and Development in favor of Uzbekistan Industrial and Construction Bank (SQB) of credit funds for $50 million with the possibility of converting into shares of the Bank took place.

The loan proceeds will be directed to lending to projects of small and medium-sized businesses operating in Uzbekistan. Part of the funding will be used to finance projects related to climate change, which will allow the bank to expand its green banking program.

After diagnosing and building a client-centric business development model, the third stage of transformation is currently being carried out, where a new business model of the bank is being introduced with the updating of the information system and related infrastructure.

UzA