Dentons’ Tashkent office has successfully advised the OPEC Fund for International Development (OFID) on its SME trade finance deal in Uzbekistan. Under the terms of the agreement, OFID will provide a US$20 million loan to the Uzbek Industrial and Construction Bank to finance local small and medium sized companies in an array of sectors such as agriculture, textile, healthcare and construction.

OFID and Uzbekistan have been cooperating since 2000. However, this is OFID’s first financing transaction with a local financial institution in Uzbekistan.

Partner Shukhrat Yunusov, Head of the Banking and Finance practice in Uzbekistan and a dual qualified lawyer (Solicitor of Senior Courts of England and Wales and Advocate), and junior associate Sanjar Narzullaev advised OFID on this deal.