(MENAFN- Trend News Agency) BAKU, Azerbaijan, May 3. Uzbekistan provides anopportunity for both movable and immovable collateral, which opensthe door for more businesses to obtain financing, World Bank'sSenior Financial Sector Specialist Valeriya Goffe said, Trend reports.
She spoke at the III Tashkent International InvestmentForum.
"One of the main things is collateral. As we all know, gettingthe right amount and the right kind of collateral is a challengefor many small businesses. As the businesses have explained to us,the banks still favor immovable collateral for obvious reasons. Butof course, for small businesses, it is much more difficult," shesaid.
Valeriya Goffe noted that even though businesses would like topledge things like accounts receivable, equipment, machinery, andother movable assets, which they may have in larger amounts, banksdo demand immovable collateral.
Meanwhile, Tashkent is hosting the III Tashkent InternationalInvestment Forum from May 2–3.
Almost 2,500 people from 84 countries are expected toparticipate. Among them are government representatives, heads ofmajor companies, as well as high-ranking guests from internationalorganizations such as the UN, EBRD, OPEC, and SCO.
The forum program includes more than 40 events, includingbreakout sessions, round tables, presentations, and meetings ofintergovernmental commissions. A launching ceremony for a number ofprojects in Uzbekistan is also envisaged.
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