Russia to finance construction of strategic plant in Tashkent
Baku, Azerbaijan, Oct. 23
During the Uzbek-Russian Interregional Cooperation Forum, Uzbekistan's O'zsanoatqurilishbank, the Russian Export Center (REC), the Tashkent Metallurgy Plant and the Uzbek Asaka Bank signed an agreement on strategic cooperation in financing the project on construction of the Tashkent Metallurgy Plant, which has a strategic importance for the economy of the country.
The agreement is aimed at promoting development of long-term mutually beneficial cooperation between the two sides and priority directions of interaction for effective implementation of the project.
The agreement provides for assistance of REC in granting insurance coverage by the Export Insurance Agency of Russia (EXIAR) to Russian commercial banks, which finance the project for the total amount of 141.56 million euros, as well as for considering possibility of granting export credit interest rate subsidies.