“Trade and trade finance are critical to the global and regional economy, in particular to the small and medium-sized enterprises, and employment”, Asian Development Bank Country Director for Uzbekistan Takeo Konishi said in his opening remarks at the signing ceremony of the ADB Trade Finance Program and Invest Finance Bank in Tashkent on July 5.
Uzbekistan joined the Trade Finance Program (TFP) in 2010. Within the framework of that scheme active cooperation has been in progress with four banks of the republic (Asaka Bank, Hamkorbank, Ipak Yuli and the Uzbek Industrial and Construction Bank). InFin Bank became the fifth partner. “We look forward to working with more Uzbek banks to support small and medium-sized enterprises (SMEs) in their export and import activities,” Takeo Konishi said, and announced the results of the cooperation: “To date, the Program in Uzbekistan has supported almost $ 1.3 billion in trade through 467 transactions covering guarantees.”
Thanking the leadership of ADB for its readiness to cooperate, the chairman of the board of InFin Bank Zikirillo Abdullayev said: “We are happy to join the TFP. This is a good opportunity to expand our product line. We hope the Asian Development Bank will continue to provide trust and support, promote the development of Uzbekistan’s trade with other countries.”
Founded in 2007, InFin Bank is a rapidly growing commercial bank that provides services to corporate clients, SMEs and individuals through 14 branches of the bank and nine local customer service points in the territory of Uzbekistan.