Uzpromstroybank has secured $25 million from the EBRD.

On the first day of the 32nd Annual Meeting of the Board of Governors of the EBRD, an agreement was signed to attract $25 million between "Uzpromstroybank" and the EBRD.

Correspondent Daryo learned that this is the ninth transaction in the third year. The financial institution primarily collaborates with the EBRD to support small businesses. To date, the bank has raised approximately $300 million from the European side.

I believe we can utilize these $25 million within a year and a half. The funds will mainly be allocated to financing small businesses, particularly in the textile sector. As you may know, there is currently a textile boom in the regions of the country, — emphasized Avzal Musakhanov, Deputy Director of the Department for Work with Financial Institutions and Investors of the Uzbek financial institution.

According to him, a pre-privatization process is currently underway, where the EBRD could become one of the shareholders in "Uzpromstroybank." Musakhanov noted that work is ongoing in this direction.