Tashkent, Uzbekistan (UzDaily.com) –– More and more enterprises in Uzbekistan, including small and medium enterprises (SMEs), will benefit from export and import opportunities available under the trade finance agreement signed between the EBRD and one of the leading banks in Uzbekistan – Ipoteka Bank.

In response to the Coronavirus pandemic and its economic impact, the EBRD devotes all its work to supporting its regions. An important part of this effort is to increase the much-needed EBRD support in trade finance, which in Uzbekistan alone has now reached US$220 million.

Increased trade finance will help alleviate disruptions caused by difficult market conditions in the supply chain. This is especially important in situations where the availability of commercial trade finance credit lines is likely to remain limited.

An additional trade limit of up to US$30 million for Ipoteka Bank under the EBRD’s Trade Facilitation Support Program (PSRT) will help domestic exporters and importers to continue their activities.

The PSRT promotes the development of international trade in countries in which the EBRD invests, including in Uzbekistan, from these countries and within them. Under this program, the EBRD provides guarantees to international confirming banks, taking on the political and commercial payment risk of international trade transactions carried out by banks in these countries. The PSRT provides access to finance for exporters and importers, including small enterprises, strengthens local compliance capacities and develops trade finance skills.

Ipoteka Bank has 39 branches throughout Uzbekistan and has every opportunity to provide much-needed support to Uzbek enterprises so that they can better manage inventory and plan longer trading cycles.