Baku, Azerbaijan, Oct. 22
Trend:
Russia's Sberbank and the National Bank of Uzbekistan (NBU) have signed a cooperation agreement worth $350 million, Uzbek media reported.
The document provides for cooperation of the two banks in financing large projects, as well as projects in the field of small business and private entrepreneurship.
In addition, the agreement will enable the NBU's customers to use a wide range of Sberbank's services such as financing structuring, trade and project financing, as well as using the Russian bank databases to select reliable and proven suppliers of goods and services.
"The advantage of this credit line is possibility of financing supply of high-tech equipment and services not only from Russia, but also from other countries of the world where the branch network of Sberbank is present: Belarus, Kazakhstan, Turkey, Switzerland, Czech Republic, Hungary, Serbia, Croatia, Slovenia, Bosnia and Herzegovina," the Uzbek bank noted.
The credit line of Sberbank is attracted under the insurance coverage of export credit agencies without a state guarantee.
Sberbank of Russia was established in 1841 and holds the first place in terms of assets ($418 billion) in Russia and the CIS with the widest network of branches offering a full range of investment banking services serving 110 million bank customers worldwide.