Baku, Azerbaijan, March 13
By Fikret Dolukhanov – Trend:
Uzbek State Investments Committee and the International Trade Finance Corporation (a part of the Islamic Development Bank) signed a framework agreement on issuing a $100-million credit line, RIA Novosti reported on March 13 citing the press office of the state committee.
“According to the agreement, the ITFC will issue Uzbek companies short-term credits totaling $100 million during the next two years,” the state committee said.
Funds from the credit line will be spent on financing trade with the Organization of Islamic Cooperation (OIC) states.
“The agreement allows accessing the finance and trade resources of Islamic states and signing contracts with small and medium-sized businesses in Uzbekistan,” the state committee added.
Uzbekistan has been an IDB member since 2003. According to the information of the Uzbek side, the bank has issued $1.4 billion for implementation of 26 projects in healthcare, education, irrigation and land improvement, energy, water supply, development of road infrastructure and support for small businesses.