Ipak Yuli Bank attracted loans in the amount of USD 20 million in equivalent of UZS from investment funds of Swiss responsAbility Investments AG, as well as in the amount of USD 5.25 million from Symbiotics, the Swiss asset management company.

These agreements demonstrate once again a high confidence of the Bank and the huge potential of the local economy from European investment funds. The raised funds will be used by the Bank to develop lending to small and medium-sized businesses, including post-crisis development projects.

In addition, it is important to note that the greement with responsAbility Investments AG is the first stage of long-term and effective cooperation, allowing the expansion of activities of the Bank.

responsAbility Investments AG, founded in 2003, is based in Zurich and manages assets over USD 3.5 billion with 10 offices worldwide. The company contributes to development by providing finance and other banking services to very small, small and medium-sized enterprises that previously had limited access to formal financial services. Through its inclusive business models, the company has invested over 540 projects in 90 countries.

Symbiotics, registered in Geneva in 2004, is an investment company specializing in sustainable financing for developing countries, which offers services in market research, investment consulting and asset management. Since 2005, Symbiotics has invested over USD 5.5 billion in developing countries and currently operates in over 90 emerging markets.