Background

Supporting SMEs trade in Poland and Uzbekistan

The International Bank for Economic Co-operation financed trade operations between Poland and Uzbekistan for the first time. IBEC issued a targeted trade loan to Qishloq Qurilish Bank. Among the shareholders of this bank are the Ministry of Finance of Uzbekistan and the Fund for Reconstruction and Development of the Republic of Uzbekistan. The key areas of activity of Qishloq Qurilish Bank correspond to the profile of a development institution – among its tasks are support for small and medium-sized businesses and assistance in the development of social infrastructure.

The funds provided by IBEC are used to finance purchase of products from Polish companies and entrepreneurs in the small and medium-sized business sector. Among the purchased goods there are specialized vehicles from the world's leading manufacturers for cargo transportation. The loan is provided for a period of 2 years, and in the future it is planned to increase the participation of IBEC in the development of trade between Poland and Uzbekistan.

This is the first deal for the IBEC between Poland and Uzbekistan, and it clearly corresponds to the strategic objectives of the Bank – development of international trade of the member states and support for exports in the Eurasian space, in the area of IBEC economic interests.

 

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