Tashkent, Uzbekistan (UzDaily.com) -- On 11 March 2021, funds for expanding access to financial services Triodos Fair Share and Triodos Microfinance, managed by Triodos Investment Management BV, signed an agreement with Ipak Yuli Bank on the provision of loan funds in the amount of 10 million euro, equivalent in Uzbek soums.

The allocated funds under the Agreement with Triodos Fair Share and Triodos Microfinance will be used to support small businesses and private entrepreneurship that require financial incentives after the impact of the pandemic.

In addition, it is noted that long-term loans allocated for financing projects in the field of SMEs will provide an opportunity for the Bank's clients to increase their export potential and create new jobs.

The cooperation of Ipak Yuli Bank with the investment company Triodos Investment Management began in 2015 with the provision of a syndicated credit line to the Bank in the amount of US$38 million jointly with FMO (Netherlands Development Bank) and DEG (German Development Bank).

In 2019, the Bank also received subordinated debt in the amount of 3 million euros and a credit line in the amount of 9 million euros. In addition, in August 2020, Triodos Microfinance Fund, which is managed by Triodos Investment Management, became a minority shareholder in the Bank.