As you know, in the course of the reforms taking place in our country, the President of the Republic of Uzbekistan signed a Decree “On priority measures to liberalize foreign exchange policy”, which, in turn, increased the investment attractiveness of our economy and, as a result, aroused the interest of many international financial institutions to doing business in Uzbekistan. One of such organizations interested in supporting the banking and financial sector of the Republic of Uzbekistan is the European Bank for Reconstruction and Development. And today, at the Radisson Blu Hotel in Tashkent, a ceremony was held to sign a bilateral agreement between the Joint-Stock Commercial Bank Hamkorbank with the participation of foreign capital and the European Bank for Reconstruction and Development (EBRD) in the direction of small business lending and trade finance. The signing ceremony was attended by representatives of the EBRD, Chairman of the Board of JSCB Hamkorbank, Chairman of the Management and the members of the JSCB Hamkorbank Council, as well as media representatives. The agreement between Hamkorbank and the EBRD provides an opportunity to take partnership relations to a new level. As part of the ceremony, two major agreements were signed to finance small businesses for a total of $20 million, as well as a $10 million cap on trade finance. The trade finance program will enable the bank to finance foreign trade operations of clients using modern financing instruments, and will also increase the range of banking offers for trade finance. With a network of 33 branches and 158 service points throughout the country, Hamkorbank is well positioned to provide the necessary financing for micro and small enterprises in Uzbekistan, especially in rural areas. The signed agreements will contribute to the development of country’s economy, since as a result of financial support for small businesses, thousands of new jobs will be created, and foreign trade relations of business entities with export-import activities will be improved. The partnership between Hamkorbank and the EBRD dates back to 2001. A total of USD 13 million projects were implemented under credit lines for financing micro and small enterprises, as well as trade finance projects with a limit of USD 5 million. In addition, as part of the disbursement of the funds from the credit lines, the EBRD on an ongoing basis contributed to the provision of technical assistance, as a result of which the bank developed unique models for analyzing the creditworthiness of clients, business processes for lending to micro and small businesses, and developed a system of remuneration for employees involved in the lending process.

Bank information service

More information about the EBRD: www.ebrd.com

Joint-Stock Commercial Bank "Hamkorbank" with the participation of foreign capital has been operating in the banking services market since 1991. For 26 years, he has formed an extensive branch network covering all administrative regions of the Republic. Today, the bank has 191 service points, including 33 branches, 158 mini-banks, and 6 subsidiaries. The bank provides its clients with more than 50 types of financial services. The bank's shareholders include such major international financial institutions as the International Finance Corporation (IFC) and the Dutch Development Bank (FMO). Today, the bank has 17 foreign partners, and the funds raised from them amounting to 185.7 million US dollars. The main activities of the bank are lending to the real sector of the economy of Uzbekistan, financing projects for technical and technological modernization in order to promote the production of competitive products and create new jobs. The bank pays special attention to the financing of small businesses and private entrepreneurship, while the bank puts a high value on the interests of its depositors, customers and shareholders.

Additional information about Hamkorbank: www.hamkorbank.uz