EMGA Arranges US$80 Mln Club Loan For Uzbekistan’s Ipak Yuli Bank

KUALA LUMPUR, Sept 15 (Bernama) -- London-based Emerging Markets Global Advisory LLP (EMGA) has led a US$80 million club loan financing for Uzbekistan’s Ipak Yuli Bank, funded by OeEB, CDP and Allianz Global Investors (AGI). (US$1 = RM4.07)

“We are pleased to be the lead arranger in structuring this latest facility for Ipak Yuli that was aimed at further building their SME, Gender and Green portfolios.

“Our close relationship with Ipak Yuli as well as each of these DFIs has been integral to the successful execution of a complex transaction,” said EMGA Head of Investment Banking and Managing Director, Sajeev Chakkalakal in a statement.

Meanwhile, Ipak Yuli Bank Chief Executive Officer, Umidjon Khakimov said the transaction further strengthens the bank’s cooperation with EMGA and establishes partnerships with new international institutions.

“The transaction further diversifies our funding base and enables us to expand our support to clients and businesses in Uzbekistan,” added Khakimov.

Established in December 1990, Ipak Yuli is a joint-stock commercial-innovation bank in Uzbekistan providing banking services to individual entrepreneurs, small and medium-sized businesses, state organisations and institutions, and corporate customers.

OeEB has been operating as the Development Bank of Austria since March 2008, while CDP is Italy’s official Development Finance Institution and National Promotional Institution, financing sustainable development, international cooperation, infrastructure and business growth in emerging and developing markets.

AGI is a global investment management firm with offices in 21 locations worldwide and is owned by the global insurance and financial services group Allianz.

-- BERNAMA