Azerbaijan's total debt amounted to 17.352 billion manats ($10.2 billion) or 21.6 percent of GDP as of July 1.

The financing will help domestic small and medium-sized enterprises (SMEs), which are responsible for at least 56 percent of Uzbekistan’s GDP, invest in green technologies.

The agency also upgraded the bank's national scale long-term counterparty risk rating to Baa2.kz from Baa3.kz and affirmed its long- and short-term deposit ratings at B2/Not Prime.

Commercial banks reported a total net profit of 1.760 billion lari ($568 million) from January to October compared to a loss of 85.9 million lari in the same period in 2020.

Second tranche of credit was delayed by IMF's insistence on key reforms.

Lenders reported a rise in total net profit of 19.3 percent year-on-year of 570.1 million manats ($335.4 million) in the period from January to October 2021.