In August 2026, OeEB signed a financing agreement with Uzbekistan’s Ipak Yuli Bank together with Cassa Depositi e Prestiti S.p.A. (CDP, Italy) and the Allianz Credit Emerging Markets Fund S.A., SICAV-RAIF (Luxembourg), managed by Allianz Global Investors (Germany). The three development finance institutions are providing a total of USD 80 million, including USD 25 million from OeEB. The funds will be used to finance micro, small and medium-sized enterprises (MSMEs) in Uzbekistan.
| Project name | Ipak Yuli |
| Region | Central Asia |
| Sector | Financial sector / Microfinance / SME |
| Service | Investment Finance |
| Project country | Uzbekistan |
| OeEB project volume | USD 25 million |
| International climate finance according to UNFCCC | Yes |
| Additionality | Financial Additionality |
| Project partner(s) | Cassa Depositi e Prestiti S.p.A. (CDP), Allianz Credit Emerging Markets Fund S.A., SICAV-RAIF (verwaltet von Allianz Global Investors), Ipak Yuli Bank |
Ipak Yuli Bank is one of Uzbekistan's leading private banks, with a strong position in the MSME segment, and plays an important role in promoting entrepreneurship, innovation, and private sector growth in the country. The financing package provided by OeEB, CDP and Allianz Credit Emerging Markets Fund will strengthen access to capital for micro, small and medium-sized enterprises across Uzbekistan, helping to foster entrepreneurship, innovation and private sector growth.
30% of the facility will be allocated to eligible green finance projects, supporting sustainable investments and the green transformation of Uzbekistan's economy. In addition, 35% of the funding will support greater financial inclusion and economic participation for women. The transaction is also 2X Challenge eligible, underlining its contribution to gender equality and inclusive economic development.