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Swiss Symbiotics talks on future projects in Uzbekistan

27 October 2019 [11:52] - TODAY.AZ
By Trend

Swiss Symbiotics' investment company is intended to provide financing of energy efficiency and renewable energy projects in Uzbekistan, a representative of the company told Trend in an interview.

As noted, the company is also potentially interested in investing in financial institutions specialized in leasing and factoring operations, as well as in Uzbekistan’s fintech companies.

"Along with direct investments denominated in so-called hard currencies such as USD or EUR, our company also offers loan facilities in local currencies. The monetary liberalization in Uzbekistan allowed Symbiotics to launch loan facilities in Uzbek soum in early 2018," the representative noted.

The official added that this product does not expose financial institutions – as well as its final clients – to the foreign exchange risk; therefore it has been in high demand from partners.

"Furthermore, we are currently working on bringing to the Uzbek market subordinated debt, a long-term facility that is used to increase capitalization of the bank. Although it has already been available to Uzbek banks, this kind of financial resource remains rare," the representative stated.

Symbiotics Group is both a one-stop shop for impact investors and a development finance agent, contributing to the financing of Sustainable Development Goals by providing traditionally underserved micro-, small and medium-size businesses increased access to capital and financial services in frontier and emerging markets.

The company produces market research, impact bonds, investment funds, investment mandates, capacity building, impact measurement solutions and financing solutions. Since 2005, the company has structured and originated over 4000 transactions, representing more than $5 billion, invested into 380 companies in 78 emerging and frontier markets.

URL: http://www.today.az/news/regions/187705.html

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