Baku, Azerbaijan, March 7
By Fakhri Vakilov - Trend:
Minister of Investment and Foreign Trade of Uzbekistan Sador Umurzakov held a meeting with the leadership of the Export-Import Bank of Hungary to discuss prospects for expanding cooperation with Uzbek business, Trend reports via Uzbek media.
During the talks, it was announced that due to growing confidence in the financial sustainability of Uzbekistan’s economy, the bank is currently actively seeking new solutions and opportunities to intensify work in this direction.
The Hungarian side intends to extend credit lines to Uzbek commercial banks and finance specific ongoing projects.
The sides discussed a number of new initiatives.
The director of Eximbank noted that as the presence of Hungarian capital in Uzbekistan increases, there are all the prerequisites for a proportional increase in funding for joint projects on mutually beneficial terms.
Moreover, the sides discussed issue of close cooperation in the implementation of export financing program. Eximbank is ready to consider the opportunity to establish contact with the participants of foreign trade operations and form a pool of proposals in this area with involvement of commercial banks from Hungary and Uzbekistan.
An agreement was reached on the earliest use of the credit limit allocated to Uzbekistan of $46.5 million for the further study of raising the specified limit.
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