As part of the EBRD's Trade Facilitation Program (TFP), a credit limit of $ 20 million has been opened for the Asaka Bank state bank
According to experts, such support will help the state bank expand the range of trade finance products, and investments will contribute to energy security and the development of the corporate bond market. In addition, a loan for trade finance will help Asaka Bank, which has 22 branches throughout Uzbekistan, gain good opportunities to provide financial resources to domestic companies seeking to expand their trading operations, as well as support import and export operations, and further develop their correspondent banking services and strengthen their range of trade finance products.
The TFP program promotes the development of international trade in countries in which the EBRD invests, including in Uzbekistan, from these countries and within them. Under this program, the EBRD provides guarantees to international confirming banks, taking on the political and commercial payment risk of international trading operations by banks in these countries.