IFC and DAVR-BANK Partner to Boost Financing for Small Businesses and Women Entrepreneurs in Uzbekistan
Uzbekistan, Sept. 25 -- To expand access to finance for underserved entrepreneurs, IFC and DAVR-BANK have signed a $40 million loan agreement to boost lending to micro and small enterprises (MSEs) across Uzbekistan, with a focus on women-led businesses. The initiative aims to promote inclusive economic growth, empower small entrepreneurs, and create jobs.The financing package, which comprises a $30 million loan from IFC's own account and an additional $10 million loan mobilized from micro and small loans-focused impact investor Invest in Visions GmbH, will help address a critical financing gap for smaller businesses in the country. One-quarter of the funding will be dedicated to women-led businesses, which often face additional barriers. Mi...
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