Uzbekistan, Tashkent, Oct. 13 / Trend, D.Azizov /
The Uzbek Agrobank and the Polish National Economy Bank have signed a memorandum on cooperation. According to the memorandum, the Polish bank will allocate credit up to $15 million to finance investment projects in small business.
According to the information, the drawn funds may be used to increase the number of livestock, both for meat and dairy production, and to construct specialized gas stations.
The borrowed funds are planned to be granted in the form of short-term financing for finished goods and Polish raw materials and long-term financing for investment projects.
The long-term lending provides for financing investment projects. The loan amount will not exceed 85 percent of the contract cost.
Agrobank was formed from Pakhtabank in March upon the decree of the Uzbek president. The main objectives of the bank are loans and complex banking services rendered to farms dealing with agricultural production, including cotton and grain processing enterprises. Agrobank is the legal successor of Pakhtabank for property, financial and other obligations.
About 185 districts and urban branches, 468 mini-banks, 189 special cash desks, 274 currency exchange operate in all of the country's regions. The bank serves nearly 270,000 legal and over a million physical entities.