Tashkent, Uzbekistan (UzDaily.com) -- Deutsche Investitions und Entwicklungsgesellschaft (DEG) investment corporation, a subsidiary of KfW, allocated 3 million euros to Bank Ipak Yoli.

The funds were provided under the subordinated loan agreement, which was concluded between the parties on 26 November 2018.

Bank Ipak Yoli will direct the raised funds to finance small business projects and private entrepreneurship, as well as the development of the private sector in Uzbekistan.