Baku, Azerbaijan, Nov. 16
By Nigar Guliyeva - Trend:
The National Bank for Foreign Economic Activity of Uzbekistan concluded loan agreements with leading German banks for a total of 950 million euros, the bank reported.
The agreements were signed during the visit of a governmental delegation of Uzbekistan headed by Prime Minister Abdullah Aripov Nov.14-17 to Germany.
The Uzbek-German business forum was held in Munich Nov.15, as part of which a package of agreements was signed with the leading financial institutions of Germany.
The largest agreement was signed with Deutsche Bank AG in the amount of 500 million euros aimed at supporting large-scale investment projects in Uzbekistan.
Agreements with Commerzbank AG worth 350 million euros and AKA Bank worth 100 million euros were also signed. The agreements provide for the financing of investment projects, as well as projects for small businesses and private entrepreneurship.
The signed loan agreements are "non-guaranteed", that is, they do not require a government guarantee.