Ipak Yo’li Bank and IFC signed a $42 million agreement to support small businesses and women entrepreneurs.

Ipak Yo’li Banki has signed an agreement with the International Finance Corporation (IFC) to obtain a credit line of up to $42 million to improve access to financing for small businesses and women entrepreneurs in Uzbekistan.

Under the agreement, 25% of the total credit line will be directed toward supporting enterprises managed by women. This funding will help small and medium-sized enterprises grow and create new jobs, contributing to the growth of the national economy.

The agreement confirms the strong partnership between IFC and Ipak Yo’li Banki, which began in 2018 with a $15 million commitment to support small businesses. IFC will also provide strategic advisory support to Ipak Yo’li Banki to optimize products and services for SMEs.

In the 2024 fiscal year, IFC allocated a record $56 billion to private companies and financial institutions in developing countries.

Source: ifc.org