On June 23, Sanoat Qurilish Bank (Uzbekistan Industrial and Construction Bank) and the European Bank for Reconstruction and Development (EBRD) signed a loan agreement, according to which the EBRD provides a credit line in the amount of $40 million to finance domestic manufacturers, exporters and SMEs.
This agreement will allow Sanoat Qurilish Bank through an extensive network of its branches located in all regions of the Republic of Uzbekistan to allocate funds from the EBRD to the most popular small business projects in the country, helping to achieve their goals in the context of the coronavirus pandemic.
This is the third agreement despite the fact that the active phase of cooperation between Sanoat Qurilish Bank and the EBRD began only in 2019. Active cooperation is carried out in trade finance, financing export-import operations of both bank customers and as a confirming bank against EBRD loan guarantees. In addition, the EBRD advises the bank on privatization, improving treasury operations, asset and liability management, as well as staff development and improving customers’ financial literacy.