IFC signed a syndicated loan of up to US$42 million for Ipak Yuli Bank. The tranche comprised US$20 million from IFC and US$22 million mobilised from Invest in Visions and ILX Fund.
It was the first tranche of a financing package of up to US$72 million. Twenty-five percent of the funding was earmarked for women-run businesses. IFC estimated Uzbekistan's MSME financing gap at about US$11.8 billion.
The transaction demonstrates a private bank's access to syndicated impact capital and the scale of unmet MSME demand, while the 'up to' amounts are limits rather than drawn debt.
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