- ICD and Ziraat Bank Uzbekistan signed an Expression of Intent for the USD 10 million Line of Financing Facility aimed at supporting eligible private sector projects in Uzbekistan.
- This agreement initiates a partnership between ICD and JSC Ziraat Bank Uzbekistan, reflecting ICD’s strategic commitment to bolstering private sector growth within its member nations.
TASHKENT, UZBEKISTAN: At the 3rd Tashkent Investment Forum, the Islamic Corporation for the Development of the Private Sector (ICD) and JSC Ziraat Bank Uzbekistan, formalized an expression of intent to partner to collaborate in empowering small and medium-sized enterprises (SMEs) and fostering economic growth in Uzbekistan.
Through this partnership, ICD will provide JSC Ziraat Bank Uzbekistan with a Line of Financing (LoF) facility, to fund private sector projects as an agent of ICD. This initiative is poised to significantly boost the SME landscape in Uzbekistan by equipping entrepreneurs with the necessary resources to initiate and grow projects that meaningfully contribute to the national economy.
Ziraat Bank Uzbekistan, now a strategic partner for ICD, stands out as a prominent commercial bank with foreign capital. The new LoF facility not only marks the commencement of collaboration between the two entities but also underscores ICD’s dedication to advancing the private sector within its member countries, further solidifying its role in spurring economic development across the Islamic world.
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