TASHKENT, UZBEKISTAN: During the 3rd Tashkent Investment Forum, the Islamic Corporation for the Development of the Private Sector (ICD) and JSC Ziraat Bank Uzbekistan formalized an expression of intent to collaborate in empowering small and medium-sized enterprises (SMEs) and fostering economic growth in Uzbekistan.

As part of this partnership, ICD will provide JSC Ziraat Bank Uzbekistan with a Line of Financing (LoF) facility to fund private sector projects, with the bank acting as an agent for ICD. This initiative aims to significantly enhance the SME landscape in Uzbekistan by providing entrepreneurs with the resources needed to launch and expand projects that contribute to the national economy.

Ziraat Bank Uzbekistan, now a strategic partner for ICD, is a notable commercial bank with foreign capital. The new LoF facility not only signifies the start of collaboration between the two entities but also emphasizes ICD's commitment to advancing the private sector within its member countries, further solidifying its role in driving economic development across the Islamic world.

• ICD and Ziraat Bank Uzbekistan have signed an Expression of Intent for a USD 10 million Line of Financing Facility, designed to support eligible private sector projects in Uzbekistan.
• This agreement marks the beginning of a partnership between ICD and JSC Ziraat Bank Uzbekistan, highlighting ICD's strategic commitment to fostering private sector growth within its member countries.