EMGA and OeEB Provide $15 Million Financing Support to Asia Alliance Bank in Uzbekistan

Emerging Markets Global Advisory LLP (EMGA), in partnership with the Austrian development bank OeEB, has successfully closed a $15 million financing transaction for Asia Alliance Bank (AAB) in Uzbekistan. The deal is aimed at expanding access to finance for small and medium-sized enterprises (SMEs), supporting women entrepreneurs, and promoting green projects in the country.

Asia Alliance Bank CEO Umidjon Abduazimov described the financing as an important milestone in the bank’s ongoing growth strategy. He noted that the transaction will help further diversify international funding sources and strengthen support for Uzbekistan’s private sector development, particularly in SME and sustainable finance segments.

OeEB CEO and Management Board Member Sabine Gaber emphasized that the partnership aligns with the bank’s core priorities, including improving access to finance for micro, small, and medium-sized enterprises, promoting gender equality through support for women-led businesses, and investing in environmentally sustainable economic activities.

EMGA Managing Director and Head of Investment Banking Sajeev Chakkalakal highlighted that the transaction marks a meaningful step in supporting innovative financing solutions for MSMEs and green sectors in Uzbekistan, while also reinforcing EMGA’s long-standing collaboration with OeEB as a leading development finance institution.

Another EMGA Managing Director, Jeremy Dobson, added that Asia Alliance Bank is a fast-growing institution in Uzbekistan’s competitive banking sector, and that the deal represents another milestone in supporting its growth trajectory.

Founded in 2009, Asia Alliance Bank is a leading private commercial bank in Uzbekistan, offering services across corporate banking, SME finance, trade finance, treasury, and retail banking. The bank has built a strong reputation in supporting entrepreneurship, international trade, and private sector development, and has received multiple international awards for its SME and innovation-focused initiatives.

OeEB, the Development Bank of Austria, was established in 2008 as a wholly owned subsidiary of Oesterreichische Kontrollbank (OeKB). It focuses on improving living conditions in developing countries by financing projects that increase access to capital, particularly in markets where businesses face limited access to loans and equity financing. These investments aim to support job creation, tax revenue growth, and foreign exchange inflows.

EMGA is a boutique investment bank specializing in emerging markets, with offices in New York and London. The firm advises financial institutions, corporates, and project sponsors on raising debt and equity capital, with a strong focus on high-growth economies, including Uzbekistan, which remains a key market for the firm.

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