| Project Detail |
Location:
Uzbekistan
Project number:
54823
Business sector:
Financial institutions
Notice type:
Private
Environmental category:
FI
Approval date:
02 Apr 2024
Status:
Passed Concept Review, Pending Final Review
PSD disclosed:
04 Apr 2024
The provision of a senior loan of up to US$ 4 million equivalent in the local currency (MSME loan) in favor of the Fortuna Biznes Mikromoliya Tashkiloti (Fortuna Business MFO) to support individual entrepreneurs and private micro, small and medium-sized enterprises (MSMEs) in Uzbekistan.
Project Objectives
The MSME loan will allow Fortuna Business to diversify its funding base and expand lending to private MSMEs with a focus on attracting new clients and reaching borrowers in the regions of Uzbekistan. Up to 35 per cent of the loan will finance businesses led by women and up to 65 per cent of the loan will finance businesses outside of the capital.
The loan will be comprised of two equal tranches of US$ 2 million each. Tranche 1 will be committed upon signing the loan while Tranche 2 will be uncommitted and will be made available at the sole discretion of the Bank, delegated to the management and processed via the Banking Services circulation.
The transaction aligns well with the objective of the country strategy, which aims to ensure stronger role of SMEs in the economy through enhanced access to finance and capacity. |
