OREANDA-NEWS. On June 19, 2009 The Islamic Corporation for the Development of the Private Sector (ICD) and Asaka Bank signed an agreement on opening credit line for US15 million.

The credit line will be directed to develop private sector and financing of small businesses in Uzbekistan, the Uzbek bank said.

The bank said the credit line will be used to launch of production on export-oriented and import-replacing projects in such sectors of economy as agribusiness, bio technologies, education, production, healthcare, information technology and multimedia, telecommunication, transport and others.

The minimal size of the credit is US100,000 and maximum sum of the credit is US2 million, but it should not exceed preliminary project cost. The credit issued up to six years, including one year grace period.