Proparco carries out its first operation in Uzbekistan
published on 04 December 2019
Through a US$15 million loan to Hamkorbank, Proparco supports the Uzbek private sector, in particular its small and medium-sized enterprises.
Since its creation in 1991, Hamkorbank has been focusing on supporting private companies. Thanks to its client-orientated practices and its innovative services, Hamkorbank has become Uzbekistan’s leading private bank. Its strategy focuses in particular on financing micro, small and medium-sized enterprises. Thanks to its extended network in the country, it has also been an important supporter of the agricultural sector.
A new partnership for growth and job creation
Proparco’s US$15 million credit line to Hamkorbank will further help the bank to play its essential role for the Uzbek economy and will support an actor well-known for its responsible environmental and social practices.
Proparco’s first intervention in Uzbekistan is fully in line with its commitment to financing MSMEs in developing countries and emerging economies.
“Proparco is extremely satisfied to sign its first transaction in Uzbekistan with Hamkorbank, the country’s leading private bank, and looks forward to strengthen its partnership with the bank and further expand its interventions in the country, with the aim, as always, to foster private sector’s contribution to the achievement of the Sustainable development Goals (SDGs)” said Jean-Gabriel Dayre, Proparco’s Regional Manager for Turkey, Caucasus, Eastern Europe, Balkans and Central Asia.
This operation is expected to support more than 4,000 direct jobs in Uzbekistan in the coming years.
