LONDON, May 21, 2026 (GLOBE NEWSWIRE) — Emerging Markets Global Advisory LLP is delighted to announce yet another closing in Uzbekistan having secured funding from OeEB, the Development Bank of Austria, to support Asia Alliance Bank.
Commenting on the transaction, Asia Alliance Bank’s CEO, Mr. Umidjon Abduazimov, said: “This new USD 15 million facility represents an important step in the Bank’s ongoing development and will support the further expansion of financing for SMEs, women entrepreneurship, and green projects in Uzbekistan, which are becoming increasingly important across the country’s economy. The transaction also reflects the Bank’s continued growth, diversification of international funding sources, and commitment to supporting sustainable private sector development in Uzbekistan. At the same time, this cooperation demonstrates the growing confidence of international development finance institutions in both Asia Alliance Bank and Uzbekistan’s banking sector and economic potential overall.
Also commenting on the transaction, Sabine Gaber, CEO and Member of OeEB’s Executive Board, said “Our partnership with Asia Alliance Bank is a strong fit for us, as it combines three key priorities of our strategy: expanding access to finance for underserved MSMEs, advancing gender equality through support for women-owned businesses, and promoting green finance investments that contribute to a more sustainable economy. Through this investment, we aim to support long-term economic inclusion, resilience and job creation across Uzbekistan.”
Emerging Markets Global Advisory LLP (EMGA)’s Managing Director and Head of Investment Banking Sajeev Chakkalakal said “It was a pleasure to work together on an initial transaction with AAB and enable this innovative financing for the MSME and green sectors within the Uzbek economy. Furthermore, we relished the opportunity to cooperate again with OeEB, who as a leading DFI have been a long-term repeat investor in our transactions globally.”
Emerging Markets Global Advisory LLP (EMGA)’s Managing Director and Head of Operations, Jeremy Dobson commented “AAB is a fast-rising player in the highly competitive Uzbek banking sector, and we are proud to have enabled another step in their growth curve.”
Asia Alliance Bank (AAB) is a leading private commercial bank in Uzbekistan, providing a broad range of corporate, SME, trade finance, treasury, and retail banking services. Established in 2009, the bank has built a strong reputation for supporting entrepreneurship, international trade, and private sector development across the country. Asia Alliance Bank has received multiple international awards for SME financing and innovation and continues to expand its digital banking capabilities and international partnerships.
OeEB was founded in March 2008 as the development bank of the Republic of Austria. With a public mandate OeEB works for better living conditions in developing countries. OeEB is present in markets in which companies often have no or limited access to urgently needed capital, both credit and equity. Investments in these projects create jobs; these projects increase tax revenues and bring foreign currency into the country. OeEB is a wholly owned subsidiary of Oesterreichische Kontrollbank (OeKB).
Emerging Markets Global Advisory LLP (EMGA), is an emerging markets investment banking boutique with offices in New York and London. It helps financial institutions and corporates as well as project finance sponsors that seek new debt or equity capital. EMGA provides its services, to clients within many of the world’s rapidly developing economies, including Uzbekistan which remains a key market. With a proven track record in capital formation and strategic advisory throughout diverse economic cycles, EMGA continues to expand its geographic reach and service offering, as it solidifies its place in the market as one of the industry’s preeminent emerging markets focused investment banks.
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