(Read the full article on uzdaily.uz)

Employees of two companies, a branch and the head office of Asakabank are suspected of fraud due to the issuance of a soft loan with insufficient collateral for US$2 million. The loan was allocated by the Bukhara branch of Asakabank at the expense of loans from the Asian Development Bank (ADB) provided to Uzbekistan within the framework of the project “Development of the value-added chain in the horticultural sector”.

Officials of the Bukhara regional branch and the head office of Asakabank, the head of the company G. B. A. and other employees of K. S. LLC became involved in a criminal case of fraud, the press service of the Bukhara regional police department said.

According to the department, the above persons are suspected of conspiracy and forgery of documents for obtaining a concessional loan in the amount of US$2 million, allocated within the framework of the “Development of the Horticulture Value Chain” project with the participation of the Asian Development Bank.