Tashkent, Uzbekistan (UzDaily.com) -- ASIA ALLIANCE BANK entered into a deal with the Swiss company Symbiotics Investments.

A loan in the amount of US$4.5 million was provided to finance micro, small and medium-sized businesses in Uzbekistan in national currency, the bank’s press service reports.

This transaction was significant for the bank, since for the first time foreign financial institutions provided funds in national currency, allowing the bank to finance projects without currency risk.

Cooperation also opens the way to expanding the bank’s ability to integrate with other international financial institutions and stimulate the growth of types of financing.

Symbiotics is a large platform providing access to investors for financing in developing countries. Since its inception, Symbiotics has provided US$9.6 billion to more than 580 organizations in 95 countries.