EBRD extends $5M loan to Uzbekistan’s micro enterprises
- Tuesday, December 22, 2009, 18:50
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Microfinance Focus, Dec. 22, 2009: The EBRD has announced it will provide a $5 million credit line to Hamkor Bank in Uzbekistan for on-lending to micro and small enterprises (MSEs), said a statement. The loan will help Hamkor Bank to expand its lending services, especially to micro and small businesses.
MSEs are currently underserved by the large state banks in Uzbekistan who dominate with a market share of 85%, said the EBRD in a statement.
Hamkor Bank is one of the largest private banks in Uzbekistan, and has previously received financing from the EBRD totaling $18 million. The EBRD has invested about €550 million in over 50 projects across Uzbekistan.
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