Khamkorbank participated in the Japanese-Uzbek Programme of Small Business Development (J-USBP) from its launch in 2001. In the framework of this programme, the bank received the total of uS$5 million for the support of local micro-firms and small businesses.
EBRD launched the J-USBP Programme, which was then supported by the Japanese-European Cooperation Fund, and issued additional US$5 million for technical assistance through trainings and institutional development.
The Director of the EBRD Uzbekistan Office Fernand Pillonel said the new credit issued to the Khamkorbank was intended to support both the bank’s development, and the development of small business in the country. The bank’s dynamic development and its commitment to the support of private enterprise in Uzbekistan falls in line with the EBRD’s strategy for Uzbekistan. Khamkorbank actively participates in the EBRD’s programme on investment project financing in foreign currency.
The President of Khamkorbank, Ikrom Ibragimov said the EBRD’s issuance of credit without the government’s guarantee for it is a sign of reliability of financial stability of the bank, and its commitment to supporting private enterprise. Additional EBRD financing will ease access to financing for this important sector of economy, and will allow the bank to increase the size of its credit portfolio, diversify its financial products and expand regional network.