In the result of the deal, the ADB will become one of major shareholders of Uzbekstan-based Ipak Yoli Bank.

Investment in equity capital of Ipak Yoli Bank will help the Uzbek bank to introduce international banking standards and the best practices, as well as strengthen its capital adequacy and mobilize additional long-term resources for further increasing crediting of national economy.

Ipak Yoli Bank is non-governmental commercial bank, which was founded in 1990. Currently, it holds 10th place on business scale in Uzbekistan.

As of the end of the third 2012, total assets of the bank reached 775.1 billion soums or grew by 29.87% year-on-year. Own capital of the bank rose by 30.06% to 75.7 billion soums.

The ADB and Ipak Yoli Bank have been cooperating since 2006 and the Uzbek bank participated in implementation of the project on developing small and micro financing in Uzbekistan. The Uzbek used US$11.3 million within the project.

The bank used these resources to finance projects of small businesses. Overall, the bank issued credits to 2,413 projects and 38% of them were projects of women.