Baku, Azerbaijan, Aug 27
By Fakhri Vakilov-Trend:
The National Bank of Uzbekistan and the Chinese Development Bank (CBD) have entered into an agreement worth $309 million on a project to upgrade the Uzbekistan Airways fleet, Trend reports citing the National Bank of Uzbekistan.
The CBD has been identified as the main creditor of this project, since it provides a grace period for delivery payments without the application coverage of export insurance agencies, which prevents the rise in the cost of resources.
According to the official website of the National Bank, the Chinese Development Bank has repeatedly provided loans, through which the National Bank could finance more than 460 small business and private entrepreneurship projects.
Earlier, the National Bank mastered six credit lines of CBD for a total of $655 million.
China Development Bank (CDB) was founded in 1994 as a policy financial institution under the direct leadership of the State Council of China.
CDB has a registered capital of RMB 421.248 billion ($58.8 billion).
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