OREANDA-NEWS. July 31, 2008. Financial institutions and their lending play an especially important role in the growth of the scale of production, and provision of employment to the population in Uzbekistan. Khamkor Bank is one of such institutions, which has already proved itself as a reliable financial organization in the market.

The bank provides service to over 50,000 clients, and its constantly renewed and developed services, efforts to expand the system of non-cash payments, extension of micro-loans to the population and financial support of entrepreneurs help expand the economic opportunities for its clients. The Bank's lending policy is aimed at extensive financial of various sectors of economy.

As a result of the analysis carried out by the Fitch Ratings, the bank's financial indicators are evaluated as stable. And this, in turn, strengthening the bank's position in the international arena provides the opportunity to develop cooperation with major international financial institutions, such as the European Bank for Reconstruction and Development, the World Bank, the International Financial Corporation, as well as a number of major banks of the CIS and Europe.

This in turn allows expanding the scale of lending for the purpose of supporting small business and other entrepreneurship entities. By now Khamkor Bank has appropriated four credit lines of the International Financial Corporation and the European Cooperation Bank.

At the same time micro-lending through the EBRD credit line has been put on the way at 18 of the bank's branches. Last year the size of the loans issued comprised US27.7 million, and this year so far it has totaled US18.5 million.

The bank's credit resources were extended to some 20,000 entrepreneurs, which created over 60,000 new jobs. Moreover, short-term and long-term loans of some 7.5 billion soums were extended to 850 women-entrepreneurs. Thanks to these loans, over 900 new jobs were created.

The bank pays special attention to the provision of mortgage and consumer loans to the population. An example of this is the fact that in the first six months of this year almost 4,000 clients were provided consumer loans in the amount of 5.9 billion soums, and about 300 received mortgage loans for the total of 4.7 billion soums.

Through its mortgage line Khamkor Bank extends loans not only for the purchasing of housing, but also for the reconstruction and repair of dwellings. An increasingly popular form is loan for young family for the purchasing of durable consumer goods.