Co-financed with the Austrian development bank OeEB and Allianz Global Investors for a total amount of 80 million dollars, the operation marks CDP's first intervention to support a private financial institution in Uzbekistan
To strengthen access to credit for micro, small, and medium-sized enterprises, encourage female entrepreneurship, and promote the sustainable transition in Uzbekistan. These are the objectives of the 25 million dollar senior loan granted by Cassa Depositi e Prestiti (CDP) to the private Uzbek commercial bank, Joint Stock Innovation Commercial Bank Ipak Yuli.
The intervention is part of a larger 80 million dollar financing package, carried out alongside the Austrian development bank Oesterreichische Entwicklungsbank AG (OeEB) and the asset management company Allianz Global Investors (AGI) through the Allianz Credit Emerging Markets Fund.
The resources will be entirely used to support micro, small, and medium-sized enterprises in Uzbekistan, helping to strengthen their access to credit and promote sustainable and inclusive economic growth. In particular, 35% of the funding will be allocated to female-owned businesses, in line with the criteria of the 2X Challenge—an international initiative promoting women's economic empowerment—while 30% will support green projects, including initiatives in the renewable energy and energy efficiency sectors.
This marks CDP's first intervention to support a private financial institution in Uzbekistan and is part of the broader commitment of Italian cooperation to promote sustainable and inclusive growth. The initiative also riaffirms CDP's role as the Italian Financial Institution for Development Cooperation, committed to supporting the private sector and fostering access to financial services in partner countries.