IFC, a member of the World Bank Group, promotes financial institutions and leasing companies in Uzbekistan in the expansion of agro-leasing portfolios in order to facilitate procurement of new equipment for farmers, increasing their productivity and support economic development in пeneral.
IFC and Lessors Association of Uzbekistan jointly held a seminar-training on effective methods of management of financial risks associated with agro-leasing operations. The event was attended by about 30 representatives of the leading leasing companies and financial institutions:
— ASAKA TRANS LEASING — QISHLOQ QURILISH BANK
— TAIBA LEASING — INFIN LEASING
— UMIDA AND ELIZABETH — O’ZSELXOZMASHLEASING
— PARTNER BUSINESS LEASING — UZBEK LEASING INTERNATIONAL
— QURILISH LEASING — O’ZAVTOSANOAT LEASING
— IPAK YO’LI BANK — O’ZMELIOMASHLIZING
— BARAKA LEASING — HAMKORMAZLIZING
— ASAKA BANK — HAMKOR BANK.
— ALLIANCE LEASING
«Through the implementation of efficient practices in risk management in the sphere of agro-financing, financial institutions and leasing companies will be able to create a healthy and stable financial portfolios, to offer farmers and entrepreneurs better services and to play an important role in the development of the agricultural sector of Uzbekistan,» said Zafar Mustafaev, Director General of the Association of leasing companies of Uzbekistan. A new partnership with IFC will help our Association to increase support to financial institutions, to improve their portfolios and expansion of credit to the agricultural sector».
Adham Ergashev, IFC Project Manager said: «Agriculture plays an important role in the economy of Uzbekistan, in the sector involved about a quarter of the working population. Through this Project, IFC will help financial institutions and aggregators involved in the supply chain in the wider coverage and service to farmers and agricultural enterprises, helping to increase their production volumes and profitability».
This initiative is part of IFC on development of agro-financing in Central Asia, which is aimed at the development of complex tools agro-financing and training programs for financial institutions, aggregators, and farmers in the Kyrgyz Republic, Tajikistan and Uzbekistan. The project is implemented with the financial support of the Austrian Ministry of Finance.
IFC, a member of the World Bank Group, is the largest global development institution the activities of which are directed exclusively to the support of the private sector. Working with private enterprises in more than 100 countries, IFC uses its capital, experience and influence to help eradicate poverty and to promote universal well-being. In the 2014 fiscal year, IFC provided financing of more than $22 billion with the aim of improving living conditions in developing countries and acute global solutions to development problems. Additional information: www.ifc.org.