OREANDA-NEWS. March 19, 2008. Asaka Bank, state joint-stock commercial bank, issued credits worth 68.5 billion soums in 2007, which promoted the development of entrepreneurship and improvement the satisfaction of financial needs of the country's population.

Founded in 1995, today Asaka Bank is cooperating actively with foreign financial institutions, among which is the Asian Development Bank (ADB). Asaka Bank jointly with the ADB has financed 273 projects for US\\$2.4 million, the ADB's share accounted for US\\$1.8 million.

With the purpose of developing business sector in Uzbekistan, the bank allocated funds worth 43 billion soums for financing entrepreneurs. As a result, more than 3,600 new workplaces have been created additionally throughout Uzbekistan.

Also, Asaka Bank allocated micro credits worth 1.3 billion soums, in line with the Law of the Republic of Uzbekistan "On microfinance".

Asaka Bank pays special attention in its credit policy to businesswomen. The bank issued some 3 billion soums for the financing of their projects. Major amount of these credits was directed on production, agriculture, trade and industry. As a result, businesswomen created additionally 773 new workplaces.

Support of young families is carried out in Uzbekistan according to the State Programme, and commercial banks play an important role in this process. Thus, Asaka Bank allocated over 18 billion soums of mortgage credits to 561 young families, of which 404 families were given credits for 12.4 billion soums on preferential terms.