IFC issues inaugural bonds in Uzbek soums

The International Finance Corporation has issued its inaugural bond in Uzbek Soum, raising 80 billion Uzbek soums - $10 million equivalent - to expand lending for micro, small and medium-sized enterprises in Uzbekistan. It represents the first Uzbek Soum-denominated transaction issued in the international markets.

The two-year bond was placed with European asset managers dedicated to emerging markets, with the deal arranged by ING Bank.