Uzbek, German banks ink deal for millions of euros

Business Materials 20 February 2018 16:55 (UTC +04:00)

Baku, Azerbaijan, Feb.20

By Nigar Guliyeva - Trend:

The National Bank for Foreign Economic Affairs of Uzbekistan and German AKA Bank (AKA AKA Ausfuhrkredit-Gesellschaft mbH) signed a loan agreement for 100 million euros to develop trade and economic ties between Uzbekistan and European countries.

The document was signed in Germany on Feb.19, the Uzbek bank said.

Under the agreement, the German bank will provide the loan line for the financing of investment projects, as well as projects of small businesses and private entrepreneurship, involving imports of goods and services from Germany and other EU countries.

The agreement signed with AKA Bank is a practical implementation of the agreements reached during the Germany visit of Uzbek delegation headed by Prime Minister Abdulla Aripov to Germany in late 2017.

Previosuly, the Uzbek bank concluded loan agreements with leading German banks for a total of 950 million euros, the European Bank for Reconstruction and Development - $ 100 million for lending to small business projects, Russian Gazprombank - $ 153 million to finance investment projects, as well as with the Turkish export credit Türk Eximbank - $44 million.