The Islamic Development Bank (IDB) has extended a credit line to three commercial banks of Uzbekistan.

An agreement on the opening of credit line for the Uzbek Ipoteka Bank, UzPromStroyBank, and Asaka Bank was signed on 3 July at InterContinental Tashkent Hotel. The document was signed by the members of the delegation of the Arab Coordination Group and the Deputy Prime Minister of Uzbekistan, Minister of Finance Rustam Azimov.

A credit line of the total of approximately USD 15 million is opened for the period of 10 years with a two-year preferential period. The minimum sum of financing for an individual project makes up USD 50,000, and the maximum – USD 2 million. The financing is intended for the investment projects in small enterprise in the industrial and agricultural sectors.

Uzbekistan joined IDB in 2003. To date, IDB has issued Uzbekistan some USD 115 million for nine projects. The IDB's credit funds are intended for the projects in the fields of construction, transportation, energy, medicine, educational, and the financial sector.

Uzreport.com