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Finance
12/12/2013
People’s Bank starts to use credit line of ICD
People’s Bank starts to use credit line of ICD
Tashkent, Uzbekistan (UzDaily.com) --
Khalq Bank (People’s Bank) of Uzbekistan started to use credit line of the Islamic Corporation for the Development of the Private Sector (ICD), the press service of the bank said.
The credit line between the Khalq Bank and the ICD was signed on 29 September 2013 for total US$15 million. The loan was issued for five years.
The loans withinthe credit line will be issued to small and private businesses for implementation of investment projects to purchase equipment, machinery, technology and production lines.
The minimal size of the loan or leasing is US$500,000 and the maximal size – US$3.5 million.
The loans and leasing can be paid in both foreign and national currency based on exchange rate of the Central Bank of Uzbekistan on equal size each quarter.
Each project will be agreed with the ICD. The projects, which do not comply with ICD requirements, will not be financed.
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