BAKU: Uzbekistan provides an opportunity for both movable and immovable collateral, which opens the door for more businesses to obtain financing, World Bank’s Senior Financial Sector Specialist Valeriya Goffe said, Trend reports.

She spoke at the III Tashkent International Investment Forum.

“One of the main things is collateral. As we all know, getting the right amount and the right kind of collateral is a challenge for many small businesses. As the businesses have explained to us, the banks still favor immovable collateral for obvious reasons. But of course, for small businesses, it is much more difficult,” she said.

Valeriya Goffe noted that even though businesses would like to pledge things like accounts receivable, equipment, machinery, and other movable assets, which they may have in larger amounts, banks do demand immovable collateral.

Meanwhile, Tashkent is hosting the III Tashkent International Investment Forum from May 2-3.

Almost 2,500 people from 84 countries are expected to participate. Among
them are government representatives, heads of major companies, as well as high-ranking guests from international organizations such as the UN, EBRD, OPEC, and SCO.

The forum program includes more than 40 events, including breakout sessions, round tables, presentations, and meetings of intergovernmental commissions. A launching ceremony for a number of projects in Uzbekistan is also envisaged.

Source: Trend News Agency