TASHKENT, December 31. /Dunyo IA/.  The Islamic Corporation for the Development of the Private Sector (ICD) has extended a USD 10 million financing line to “Anor Bank” to support small and medium-sized enterprises (SMEs) in Uzbekistan, reports Dunyo IA correspondent.

According to the Egyptian publication “Sada Al-Balad”, this agreement marks the first transaction in which the ICD has acted as the lead multilateral development bank providing financing to “Anor Bank”, laying a strategic foundation to accelerate the growth of the private sector in the country.

Under the terms of the agreement, the allocated funds will be directed toward financing SMEs and expanding private sector access to Islamic financial solutions, fully aligning with “Anor Bank’s mission” to stimulate sustainable economic growth across Uzbekistan.

This financing mechanism represents a key milestone in implementing Anor Bank’s strategic objectives, specifically aimed at strengthening SME development, increasing private sector financing, promoting Islamic finance, and contributing to the diversification of Uzbekistan’s economy.

The initiative aligns closely with ICD’s strategic mandate to support the growth of SMEs and the private sector as fundamental drivers of sustainable economic development across its member countries.

The agreement was signed by Dr. Khalid Khalafalla, Acting Chief Executive Officer (CEO) of the Islamic Corporation for the Development of the Private Sector (ICD) and Sherzod Akramov, Chairman of the Board of “Anor Bank”.