Ipak Yuli Bank
Region and country of operations: Europe and Central Asia, Uzbekistan
Jurisdiction of registration: Uzbekistan
Business sector: Bank
Date of agreement (month/year): 8/2023
Finnfund’s financing: USD 15,000,000
Share of Finnfund’s financing: 100%
Instrument: Loan
Size of project/financing: USD 15,000,000
Environmental and social category: FI-B
Project description
Ipak Yuli is a privately owned bank in Uzbekistan focusing on SME lending. Ipak Yuli has consistently grown, and to expand its loan book further, it invited Finnfund to provide a loan for on-lending to its clients. Ipak Yuli’s strategy is to increase the share of microcredit clients in its lending portfolio to above 30%.
Main development impact
Uzbekistan is a lower-middle-income country. The most important development impacts are employment generation and reduction of poverty enabled by the financing of entrepreneurs, including people in the informal sector of the economy.
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