Tashkent, Uzbekistan (UzDaily.com) — Joint-stock company "Microcredit Bank" has become one of the first commercial banks in Uzbekistan to sign a memorandum with the European Investment Bank for €40 million.

This agreement was concluded during the first Central Asia–European Union summit, which took place on 3-4 April in Samarkand.

Under the terms of the memorandum, "Microcredit Bank" aims to enhance its operations by focusing on ESG (Environmental, Social, and Governance) principles. The financial products and services the bank plans to offer are expected to promote sustainable development and have a positive impact on environmental and social sustainability in the region.

The signed memorandum also opens up new opportunities for the bank to implement joint projects with the governments of European Union countries and international donor organizations.