Tashkent, Uzbekistan, June 15, 2026 – Ipak Yuli Bank has become the first financial institution in Uzbekistan to participate in the International Finance Corporation's (IFC) Catalytic First Loss Guarantee Program, reinforcing its commitment to expanding access to finance for micro, small, and medium enterprises (MSMEs) across the country.
 

Under this landmark transaction, IFC has committed its inaugural investment through the Catalytic First Loss Guarantee Program to support Ipak Yuli Bank's MSME loan portfolio of approximately US$100 million equivalent in local currency. The facility will enable the bank to expand financing for eligible microenterprises, women-owned enterprises, and renewable energy and energy efficiency projects, strengthening financial inclusion and supporting sustainable economic development in Uzbekistan.
 

MSMEs are a key driver of Uzbekistan's economy but continue to face significant barriers to accessing finance. This partnership will help Ipak Yuli Bank expand lending to underserved businesses and contribute to more inclusive private sector growth.
 

"We are proud to be the first bank in Uzbekistan to participate in IFC's Catalytic First Loss Guarantee Program. This innovative guarantee will help us expand lending to MSMEs with limited access to finance, particularly microenterprises and women-owned businesses, while also increasing financing for climate-related projects. Together with IFC, we look forward to supporting more entrepreneurs and advancing inclusive economic growth in Uzbekistan," said Umidjon Khakimov, Chairman of the Management Board of Ipak Yuli Bank.
 

This transaction further strengthens the long-standing partnership between Ipak Yuli Bank and IFC, which began in 2018. Since then, IFC has provided US$102 million in financing to the bank, including a US$67 million syndicated loan, supporting micro, small, and medium enterprises, including women-owned businesses.
 

"Our partnership with Ipak Yuli Bank advances IFC's commitment to sustainable and inclusive growth across Uzbekistan. By catalyzing private capital toward microenterprises, women entrepreneurs, and green businesses beyond the capital, IFC aims to close the financing gap, foster entrepreneurship, and support the country's transition to a more resilient economy." said Momina Aijazuddin, IFC Regional Industry Director for the Financial Institutions Group, Middle East, Türkiye, Central Asia, Afghanistan, and Pakistan.
 

In addition to the financing, IFC will provide strategic advisory support to Ipak Yuli Bank. This assistance will focus on helping the bank enhance its product and service offerings to better meet the needs of MSME clients, including women-owned MSMEs, and drive sustainable growth.