German bank to allocate $500M to Uzbekistan for investment projects
Baku, Azerbaijan, July 24
Germany's Deutsche Bank AG will allocate a credit line of $500 million to the National Bank of Uzbekistan for financing investment projects, Podrobno.uz reports.
The credit line will be provided in order to finance investment projects in various sectors of the economy, such as the energy sector, transportation, agriculture, medicine, petrochemicals, infrastructure, metallurgy, aviation and others.
"The uniqueness of the agreement lies in the provision of long-term financing for the import of equipment and technologies from different countries, including the USA, China, Korea, Japan, Germany, France, Italy and Spain," the National Bank noted.
The National Bank has already signed the loan agreements with leading banks in Germany for a total amount of 950 million euros. The largest agreement for 500 million euros was signed with Deutsche Bank AG.
Also, agreements have been signed with Commerzbank AG for 350 million euros and AKA Bank for 100 million euros. They provide for financing of investment projects, as well as initiatives of small businesses and private enterprises.