Today, 18 June, Trustbank Private Joint Stock Bank and the Economic Empowerment Fund for Uzbekistan (EEFU) signed an agreement to secure a USD 5 million credit line. The funds will be directed towards expanding access to financial resources for small and medium-sized businesses, supporting entrepreneurial activity, creating new jobs, and fostering sustainable economic growth in Uzbekistan. The financing will be structured in accordance with Islamic finance principles, broadening the range of alternative funding sources available to entrepreneurs.
It is worth noting that EEFU is Uzbekistan’s first investment fund, established through a partnership between the Government of the Republic of Uzbekistan, the Islamic Development Bank, and international investors. Its core mission is to support the development of small and medium-sized enterprises, social businesses, and cooperatives through both financial and non-financial assistance. The Fund focuses on backing projects that promote entrepreneurship across the country’s regions, boost employment, and expand economic opportunities. EEFU also places particular emphasis on developing Islamic financial instruments and implementing international standards for sustainable finance.
The signing of this agreement between Trustbank and EEFU marks an important step in building a long-term partnership, creating additional opportunities to finance promising business projects. It will also serve to further strengthen the private sector of the country’s economy.
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