Interfax
December 4

The International Finance Corporation (IFC), the private sector arm of the World Bank Group, has opened a $5 million credit line to Uzbekistan's Asaka bank for the financing of small and mid-sized business projects, the regional IFC office told Interfax.

Corton de Mond, the head of the IFC Central Asia office, and Shukhrat Tashmuradov, the chairman of Asaka bank, signed the credit agreement on November 29.

The credit line was opened for seven years with a two-year grade period at a mid-term market interest rate.

Asaka bank is Uzbekistan's second largest bank in terms of charter capital ($150 million).

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