The European Bank for Reconstruction and Development (EBRD) will extend a loan of up to $70mn (€60mn) to Hamkorbank, a major private bank in Uzbekistan.
The funding, offered in synthetic local currency, will support micro, small, and medium-sized enterprises (MSMEs) across the country.
MSMEs contribute about 50% of Uzbekistan’s GDP and employ nearly 80% of the workforce. Supporting these businesses is a strategic priority for the EBRD.
To date, the EBRD has invested over $6.5bn in Uzbekistan through 193 projects, with most funding aimed at boosting private entrepreneurship and overall economic development.
Earlier, the EBRD extended a $50mn (€43mn) financing facility to Ipak Yuli Bank to support MSMEs and expand access to green finance.
Through the Uzbekistan Green Economy Financing Facility II (GEFF II Uzbekistan), $15mn (€12.9mn) of this loan is being provided in synthetic local currency to enable energy-efficiency projects, helping companies and households modernize operations, improve energy efficiency, and strengthen climate resilience.
