Published: October 17, 2013
Private-sector arm of the Islamic Development Bank agrees US$15mn facility for Halk Bank.
Uzbekistan’s Halk Bank has received a US$15mn Islamic funding line from the Islamic Corporation for the Development of the Private Sector (ICD), the private-sector arm of the Islamic Development Bank.
In turn, Halk Bank will lend the money to local small and medium-sized enterprises (SMEs).
The money is part of a US$50mn SME facility approved earlier this year, which brought the amount lent in Uzbekistan by ICD since 2007 to US$133mn.