Digital financial solutions provider UnaFinancial has partnered with JSCB Microcreditbank to deliver instalment loans to micro-entrepreneurs with 3, 6, and 9-month repayment terms. By merging UnaFinancial’s knowledge in developing fintech solutions and Microcreditbank’s position in Uzbekistan, the two companies joint forces to expand their offering and provide instalment loans to micro-entrepreneurs.

With UnaFinancial holding a controlling interest of 60%, the company already introduced similar solutions in other markets in which it operates in, including Asia and Europe. As part of their collaboration, UnaFinancial and Microcreditbank are set to deliver 3, 6, and 9-month repayment terms for micro-entrepreneurs in a bid to support the expansion of their operations. Further information on their plans According to UnaFinancial’s officials, the company works towards achieving its expansion strategy in markets of Central Asia.

Considering that the microfinance sector in Uzbekistan presents significant growth, with the size of loan portfolios nearly doubling since 2018 from 104 to 210, UnaFinancial aims to contribute to the advancement of the local market through the launch of its new product. Additionally, the company intends to make the process more convenient and accessible in all regions of the country, thus assisting more customers in fulfilling their development strategies via financing opportunities. Furthermore, representatives from Microcreditbank underlined that, by merging UnaFinancial’s capabilities with its local market knowledge, the two organisations focus on solidifying their position in the microfinance landscape. Also, Microcreditbank plans to deliver comprehensive support to the new MFO and provide local expertise, branch infrastructure, and resources to ensure enhanced financial services for clients.

Moreover, the financial institution is committed to fostering financial inclusion, assisting small businesses and entrepreneurs, as well as promoting economic advancement, especially in rural regions. .