FMO (Netherlands Development Bank) provided Hamkorbank with a $40 million small business financing line of credit. The new credit line will be used to expand the activities of small businesses operating in the country and to finance projects to acquire additional production capacity.

We will tell you about more detailed conditions of this credit line in the following news.

FMO is one of the largest and most influential financial institutions in the world. Cooperation between our bank and FMO began in 2012. Since 2012, Hamkorbank and FMO have signed a number of loan agreements aimed at financing small businesses. Since 2014, FMO has been one of the shareholders of Hamkorbank.

Huib-Jan De Rauter, Director of FMO Financial Institutions, said: “The purpose of this credit line is to further expand our long-term partnership with Hamkorbank and to direct 50% of the credit line to green business development. As a leading bank in Uzbekistan, Hamkorbank stands out for supporting the country's green economy and seeking to expand business opportunities. In the future, we look forward to a long-term and reliable partnership with Hamkorbank.”

As a result of cooperation with FMO, more than 400 small and medium-sized businesses were financed and more than 2,000 new job positions were created.

In the future, we will further strengthen our relationship with FMO and work closely in funding new projects.

About FMO

FMO - Netherlands Development Bank. As a leading investor, he supports the sustainable growth of the private sector in developing countries and emerging markets, invests in entrepreneurs. With 50 years of experience, FMO believes that strong sectors of the economy serve economic and social development, helping people achieve their potential and improve their quality of life. FMO focuses on 3 main development sectors - financial institutions, energy and agribusiness (food and water). FMO cooperates with 85 countries and the volume of its loan portfolio is about 9.7 billion euros. FMO is one of the largest private sector development banks in the world. More information can be found on the website: www.fmo.nl.