Uzbekistan, Tashkent, October 26/ Trend D.Azizov /
The Turkish "Ziraat Bankasi AS" and Uzbekistan's "Agrobank" JSC signed a memorandum of cooperation in the sphere of crediting the small business and private entrepreneurship, the bank's representative told Trend on Saturday.
In accordance to the document that was signed by the chairman of "Agrobank" JSC Abdivahob Tamikaev and the chairman of the board of "Ziraat Bankasi AS" Huseyn Aydin, the Turkish bank will allocate some $20 million worth of credit line to the Uzbek bank.
The interlocutor of the agency didn't disclose the terms under which the loan funds are allocated.
He said that, in accordance to the memorandum, the amount of the credit line may be increased in the future in the case of its successful adoption.
Agrobank, with assets of over 1.9 trillion soums and authorized capital in the amount of up to 263.5 billion soums is included in the top five banks of Uzbekistan.
It was formed from Pakhtabank in March 2009 upon a decree of the Uzbek president. The bank renders complex banking services to enterprises dealing with agricultural production, including cotton and grain processing enterprises.
The official exchange rate on October 26 is 2168.97 soums/$1.