EMGA arranges $80M debt facility for Uzbekistan's Ipak Yuli Bank
What's the deal? Emerging Markets Global Advisory (EMGA)Dealroom has a profile for this one. Try Dealroom → has arranged an $80 million club loan for Uzbekistan's Ipak Yuli BankDealroom has a profile for this one. Try Dealroom →, the London-based advisory firm said. Austria's development bank OeEBDealroom has a profile for this one. Try Dealroom → co-led the transaction, with Italy's Cassa Depositi e Prestiti (CDP)Dealroom has a profile for this one. Try Dealroom → and Allianz Global InvestorsDealroom has a profile for this one. Try Dealroom → joining as funders.
What's the endgame? The facility targets Ipak Yuli's small business, gender, and green lending portfolios. "This transaction further diversifies our funding base and enables us to expand our support to clients and businesses in Uzbekistan," said Umidjon Khakimov, chief executive officer of Ipak Yuli Bank.
Established in December 1990, Ipak Yuli is a joint-stock commercial bank serving entrepreneurs, small and medium-sized businesses, state organisations, and corporate clients across Uzbekistan.
Who's backing it? EMGA acted as lead arranger, while OeEB served as catalyst and lead, bringing in two additional development finance institutions. "By acting as catalyst and lead, and bringing together two additional development finance institutions, we are able to mobilize capital and amplify the impact of our financing," said Sabine Gaber, chief executive officer and executive board member of OeEB.
Why it stands out: At $80 million, the facility ranks in the top 10% of comparable rounds by size, marking a sizeable deal for a Central Asian lender. EMGA's Managing Director Sajeev Chakkalakal called it "a complex transaction," citing the firm's relationships with Ipak Yuli and the participating development finance institutions.
The signal: The deal reflects growing interest from European development finance institutions in Uzbekistan's banking sector, where capital is being channelled toward small businesses, climate action, and women-owned enterprises. Pooling multiple lenders into a single facility lets these institutions spread risk while directing funding to underserved markets.
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