EMGA Arranges US$15 Mln OeEB Financing For Asia Alliance Bank

KUALA LUMPUR, May 22 (Bernama) -- Emerging Markets Global Advisory LLP (EMGA) announced that OeEB has provided a US$15 million financing facility to Asia Alliance Bank (AAB) to support funding for small and medium-sized enterprises (SMEs), women entrepreneurs and green projects in Uzbekistan. (US$1=RM3.95)

According to EMGA in a statement, the transaction supports AAB’s efforts to expand sustainable and private sector financing while diversifying its international funding sources.

EMGA Managing Director and Head of Investment Banking, Sajeev Chakkalakal said the financing would support the development of Uzbekistan’s micro, small and medium-sized enterprises (MSME) and green sectors.

Meanwhile, AAB Chief Executive Officer (CEO), Umidjon Abduazimov said the facility reflects growing confidence among international development finance institutions in Uzbekistan’s banking sector and economic potential.

On the other hand, OeEB CEO and Executive Board member, Sabine Gaber said the partnership aligns with the institution’s priorities of improving access to finance, supporting women-owned businesses and promoting green investments.

AAB is a private commercial bank in Uzbekistan focused on corporate, SME and retail banking services, while OeEB is Austria’s development bank that supports sustainable economic projects in emerging markets.

EMGA is an emerging markets-focused investment banking advisory firm with offices in New York and London. The firm advises financial institutions, corporates and project sponsors on debt and equity capital raising, with a focus on developing economies, including Uzbekistan.

-- BERNAMA