Empowering Uzbek Small and Medium Enterprises (SMEs): Islamic Corporation for the Development of the Private Sector (ICD) Provides $10 Million Line of Financing to Anor Bank for SME Financing in Uzbekistan
This pioneering transaction establishes ICD as the first multilateral development bank to provide a Line of Finance to Anor Bank, creating a strategic cornerstone for accelerating private sector growth in Uzbekistan
Anor Bank, a leading digital bank in Uzbekistan, has signed a Line of Financing agreement with ICD (https://ICD-PS.org/). Under the agreement, ICD will provide a USD 10 million Line of Finance facility to Anor Bank. The facility aims to support small and medium-sized enterprises (SMEs) in Uzbekistan and enhance access to Islamic financial solutions for the private sector, in line with Anor Bank’s mission to promote sustainable economic growth across the country.
This financing facility represents a significant milestone in advancing Anor Bank’s strategic objectives, particularly in strengthening SME development, expanding private sector financing, promoting Islamic finance, and contributing to the diversification of Uzbekistan’s economy.
The initiative is fully aligned with ICD’s strategic focus on fostering SME growth and supporting private sector development as a key driver of sustainable economic progress across its member countries.
The agreement was signed by Dr. Khalid Khalafallah, Acting Chief Executive Officer of ICD, and Mr. Sherzod Akramov, Chairman of the Management Board of Anor Bank.
This pioneering transaction establishes ICD as the first multilateral development bank to provide a Line of Finance to Anor Bank, creating a strategic cornerstone for accelerating private sector growth in Uzbekistan. It paves the way for a new era of collaboration and investment.
Distributed by APO Group on behalf of Islamic Corporation for the Development of the Private Sector (ICD).
