Uzbekistan’s Private Sector Gains Access to Potential $10 Million Financing

On 2 November, reports confirmed that the Islamic Corporation for the Development of the Private Sector and Uzbekistan’s Open Bank had signed an expression of intent for a potential Shariah-compliant financing facility of up to $10 million. The proposed facility is intended to support eligible private-sector projects, including small and medium-sized enterprises. It remains a financing intention rather than a confirmed disbursement. The proposed facility may create opportunities for eligible SMEs seeking expansion capital and for advisers supporting business finance applications. HPC can help identify potential applicants, connect businesses with financial institutions and develop investment-ready project proposals.