Asia Alliance Bank has announced the successful attraction of a new $15 million financing line from the Austrian Development Bank (OeEB), becoming the first commercial bank in Uzbekistan to partner with this major European development institution.

The deal, aimed at strengthening the micro, small, and medium-sized enterprise (MSME) sector and expanding local entrepreneurship opportunities, was structured with the assistance of international investment firm Emerging Markets Global Advisory LLP (EMGA).

Asia Alliance Bank Chairman Umidjon Abduazimov emphasized the strategic significance: “This agreement with OeEB is an important step in diversifying capital sources and expanding international cooperation. The trust of a leading European institution underscores our financial stability, transparency, and high reputation. The funds will be fully directed to supporting MSMEs in Uzbekistan, including green projects and women entrepreneurs’ initiatives.”

OeEB CEO Sabine Gaber stated that the partnership reflects three key priorities: expanding access to capital for MSMEs, supporting socially significant business initiatives, and financing environmental projects for sustainable development.

EMGA Managing Director Sajeev Chakkalakal expressed pleasure in conveying Asia Alliance Bank’s vision and structuring the financing. Jeremy Dobson, EMGA’s Managing Director and COO, added that the new financing line creates a solid foundation for the bank’s future growth.

Founded in 2009, Asia Alliance Bank offers corporate, retail, treasury, and trade finance services, and has received international awards for MSME financing.

Source: podrobno.uz