ICD Extends USD 25 Million Line of Financing to Uzbekistan’s Agrobank to Support Private Sector Activities in the Country 

The Islamic Corporation for the Development of the Private Sector (ICD) and Uzbekistan-based Joint-Stock Commercial Bank (JSCB) Agrobank have announced the signing of a Shariah-compliant Line of Financing Agreement worth USD 25 Million, aimed at advancing Islamic finance, enhancing financial inclusion, and aiding the development of the private sector in the country.

Why it Matters?

The facility comes after three previous lines that were extended by the ICD to Agrobank in 2010, 2012, and 2018, totalling USD 21 million, which enabled the support of several Small and Medium Enterprises (SMEs) by financing projects in various vital economic sectors.

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