JPMorgan Chase Bank to allocate loan to Uzbekistan for investment project
Baku, Azerbaijan, August 9
By Fakhri Vakilov - Trend:
The US financial holding JPMorgan Chase Bank agrees to provide a credit line for the implementation of investment and commercial projects in Uzbekistan, Trend reports via Uzbek media.
On August 8, the ceremony of signing a structured export credit agreement of an international standard between the financial holding JPMorgan Chase Bank and Uzbek Joint-Stock Commercial Bank Asaka was held In Moscow.
The event, held at the Moscow office of the holding, was attended by senior officials of JPMorgan Chase Bank and Asaka Bank, as well as representatives of the Embassy of Uzbekistan in Russia.
The amount of the signed agreement is 36.4 million euros with a maturity of 7 years under the insurance coverage of Sinosure, the Chinese export credit agency.
The document provides funding for the construction of a factory for the production of polished float glass using the energy-efficient technologies in the city of Kuvasay (Fergana region) by the Joint-Stock Company Quartz (Russia).
The maximum daily output is 400 tons. The supplier of technological equipment is the Chinese company Shanghai Pony Technologies.
The experts state that the project will not only create up to 300 new highly qualified jobs, but also provide the domestic market with quality products with their further export to other countries.
It should be noted that the American financial holding JPMorgan Chase Bank for the first time agreed to provide a credit line for the implementation of an investment and commercial project in Uzbekistan.
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