The EBRD is supporting the expansion of the leading privately-owned Uzbek pharmaceutical company Jurabek Laboratories with a US$3.65 million financing package. The funds will be used for the acquisition of equipment for the production of various types of intravenous infusions and their packaging into modern polypropylene vials.
IFC, a member of the World Bank Group, has signed a loan agreement with the Kyrgyz Investment and Credit Bank to expand its micro, small, and medium enterprise lending operations in less developed areas of the Kyrgyz Republic. IFC’s US$5 million loan will also finance projects in agriculture sector.
IFC, a member of the World Bank Group, is investing in Uzbek Leasing International A.O., Uzbekistan’s first leasing company and an existing IFC client. The US$3.0 million loan will help the company expand financing options for micro and small enterprises.
Lars Thunell, Executive Vice President and CEO of IFC, a member of the World Bank Group, today concluded his first official visit to Uzbekistan by emphasizing that IFC will continue to increase access to finance for micro and small enterprises, contribute to improving the business enabling environment, and help develop housing finance. IFC will also seek opportunities for new investment in agribusiness and manufacturing.
Fitch Ratings has today affirmed Uzbekistan-based Pakhta Bank’s (PB) ratings at Long-term Issuer Default (IDR) ’B-’ (B minus), Short-term IDR ’B’, Individual ’D/E’, Support ’5’ and Support Rating Floor ’B-’ (B minus). The Outlook on the Long-term IDR remains Stable.
The board of the Central Bank of Uzbekistan resolved on 19 July to uphold refinancing rate at 14% APR, the bank said on 1 August.
The Board of the Central Bank said the assets and aggregate capital of commercial banks of Uzbekistan increased in the first half of 2008. The board held a meeting to discuss results of banking system in the first six months of 2008.
Commercial banks of Uzbekistan issued over 557.9 billion soums to support small and private businesses in the first half of 2008 or 41.3% up year-on-year, the Central Bank of Uzbekistan said on its website.
Alp Jamol Bank, one of the first private banks in Uzbekistan has started the deployment of its own fully functional processing centre based on SmartVista Suite - a modern software solution for cards and e-payments processing designed by the company BPC, a leading provider of e-payment solutions for the global financial business.
The Islamic Development Bank (IDB) Islamic Development Bank (IDB) approved US$616.2 million for new projects and technical assistance in member countries as well as Muslim communities in non-member states, reported the Saudi Press Agency (SPA) Saturday.