The EBRD is giving domestic importers and exporters in Uzbekistan a boost by opening a trade finance limit of up to US$ 20 million to Asaka Bank.
With 27 branches across Uzbekistan, Asaka Bank will be well placed to provide financial resources to domestic companies willing to expand their trade operations.
The trade finance facility will help Asaka Bank support import and export transactions, further develop its correspondent banking services and strengthen its trade finance product range.
The TFP will provide access to finance for exporters and importers, including SMEs, strengthen local capacity in compliance and advance trade finance skills. The focus will be on supporting private sector transactions and facilitating trade for “green” technologies, materials and services.
Asaka Bank has 27 branches across Uzbekistan.