(MENAFN- Trend News Agency) TASHKENT, Uzbekistan, November 27. Uzbek
Ministry of Economy and Finance and the International Finance
Corporation (IFC), a member of the World Bank Group, have discussed
ways to enhance Uzbekistan's mortgage market, Trend reports.
The announcement came after a meeting between Uzbekistan's
Deputy Minister of Economy and Finance, Zhasur Karshibaev, and the
IFC's head of investment programs in Central Asia and Turkey, Alan
Nunke, as well as other IFC executives.
During the discussion, the parties addressed the opportunities
for mutual cooperation, with a focus on assisting Uzbekistan in
strengthening its mortgage lending sector.
Initially, international partners were educated about the nature
of recent large-scale economic reforms, particularly the tasks of
boosting the role of the private sector in assuring economic
growth.
Following the discussions, the participants reached an agreement
to continue bilateral cooperation.
Earlier this year, IFC expressed its readiness to provide a loan
in the amount of $10 million to Uzbekistan's Ipak Yuli Bank to
support lending to small scale business enterprises.
IFC investments will allow Ipak Yuli Bank to increase its loan
portfolio and provide much-needed financing to the country's small
enterprises.
This project is a continuation of IFC's cooperation with Ipak
Yuli Bank, which began in 2018. Since then, IFC has provided the
bank with financing in the amount of $25 million to support small
and medium scale enterprises in hopes to increase labor
productivity and reduce poverty in the country.
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