Ipak Yuli Bank joins EBRD’s Youth in Business program
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EBRD provides financing package of USD 20 million to Uzbekistan’s Ipak Yuli Bank -
USD 10 million loan provided under EBRD’s Youth in Business Program -
US$10 million will be earmarked to support local small and medium-sized businesses
The European Bank for Reconstruction and Development (EBRD) will support micro, small and medium-sized enterprises in Uzbekistan by providing financial packages of up to USD 20 million (EUR 18.8 million) to major companies and improve access to finance for young entrepreneurs. I am. Private lender Ipak Yuli Bank.
The package consists of a USD 10 million loan under the EBRD’s Youth in Business (YiB) program and a USD 10 million loan allocated to support small and medium-sized enterprises in Uzbekistan. Ipak Yuli Bank became the latest financial institution in the country to join YiB, which aims to promote entrepreneurship and employment among young people in Central Asia.
In addition to financial support, eligible small businesses can develop their entrepreneurial skills through training, advisory services, and networking opportunities provided by the Bank’s Small Business Advice Program.
Uzbekistan has been the largest recipient of EBRD funds in Central Asia for the fourth consecutive year. To date, the Bank has invested approximately €4.44 billion in 154 projects across the country, with most of the funds supporting private entrepreneurship.
