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Uzbekistan: IFC Invests in Ipak Yuli Bank to Expand Access to Finance for Micro and Small Entrepreneurs
FC, a member of the World Bank Group, is providing a local currency-linked loan of up to $15 million to Ipak Yuli Bank to expand lending to micro, small and medium-sized enterprises (MSMEs) in Uzbekistan.
IFC’s funding will enable Ipak Yuli Bank to provide its MSMEs clients with working capital loans in local currency, a first financial product of this type in Uzbekistan’s financial market. Such loans enable MSMEs to finance their everyday operations such as purchasing supplies, paying employees, and meeting obligations to clients.
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