Tashkent: Emerging Markets Global Advisory LLP (EMGA) announced that OeEB has provided a US$15 million financing facility to Asia Alliance Bank (AAB) to support funding for small and medium-sized enterprises (SMEs), women entrepreneurs, and green projects in Uzbekistan. (US$1=RM3.95)

According to BERNAMA News Agency, EMGA in a statement, the transaction supports AAB's efforts to expand sustainable and private sector financing while diversifying its international funding sources.

EMGA Managing Director and Head of Investment Banking, Sajeev Chakkalakal, stated that the financing would support the development of Uzbekistan's micro, small, and medium-sized enterprises (MSME) and green sectors.

Meanwhile, AAB Chief Executive Officer (CEO), Umidjon Abduazimov, commented that the facility reflects growing confidence among international development finance institutions in Uzbekistan's banking sector and economic potential.

On the other hand, OeEB CEO and Executive Board member, Sabine Gaber, noted that the partnership aligns with the institution's priorities of improving access to finance, supporting women-owned businesses, and promoting green investments.

AAB is a private commercial bank in Uzbekistan focused on corporate, SME, and retail banking services. OeEB is Austria's development bank, supporting sustainable economic projects in emerging markets.

EMGA is an emerging markets-focused investment banking advisory firm with offices in New York and London. The firm advises financial institutions, corporates, and project sponsors on debt and equity capital raising, with a focus on developing economies, including Uzbekistan.