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Ipoteka-Bank and EBRD signed agreement to increase TFP limit for SMEs

Posted by: 30 march, 2022

JSCMB “Ipoteka-Bank” and European Bank for Reconstruction and Development (EBRD) have continued to be reliable partners for many years and are making joint efforts to stimulate the business activity of small and medium-sized businesses in Uzbekistan affected by the consequences of the coronavirus pandemic.

On March 24, 2022, a signing ceremony was held in the building of the EBRD's Tashkent office to increase the trade finance limit between JSCMB “Ipoteka Bank” and EBRD by 30 million US dollars. After increasing the trade finance limit, the total permanent TFP limit reached 55 million US dollars.

The official signing ceremony was attended by representatives of two financial institutions, led by EBRD President Odile Renaud-Basso, Managing Director for Central Asia of the EBRD Zsuzsanna Hargitai and First Deputy Chairman of the Board of JSCMB “Ipoteka Bank” Farrukh Botirov.

EBRD President Odile Renaud-Basso said: “The importance of trade has grown immensely in these turbulent times. We are supporting Uzbek importers by opening new permanent limits to our partner banks which will reach out to businesses across the country.”

TFP promotes international trade with partner countries. Within the framework of this program, the EBRD provides guarantees by an international confirming bank, assuming political and commercial payment risks of Uzbek banks participating in the TFP program.