Uzbekistan: IFC Invests in Ipak Yuli Bank to Expand Access to Finance for Micro and Small Entrepreneurs

FC, a member of the World Bank Group, is providing a local currency-linked loan of up to $15 million to Ipak Yuli Bank to expand lending to micro, small and medium-sized enterprises (MSMEs) in Uzbekistan.

IFC’s funding will enable Ipak Yuli Bank to provide its MSMEs clients with working capital loans in local currency, a first financial product of this type in Uzbekistan’s financial market. Such loans enable MSMEs to finance their everyday operations such as purchasing supplies, paying employees, and meeting obligations to clients.