Uzbek bank intends to attract $500M worth of investment

Business Materials 24 October 2019 14:18 (UTC +04:00)

BAKU, Azerbaijan, Oct. 24

By Fakhri Vakilov - Trend:

Uzbekistan’s Uzpromstroybank was instructed, in accordance with the decree of Uzbekistan’s President Shavkat Mirziyoyev, to attract and use long-term concessional credit lines of international financial institutions and foreign banks in the amount of at least $500 million for co-financing projects in construction sector, Trend reports via Uzbek media.

To date, 166 promising projects have been identified and an industry schedule has been approved for them (total volume of projects in the amount of US $500.7 million).

Of these, over the past four months, 30 projects have been accepted to be financed and foreign credit lines in the amount of $76.9 million have been allocated for their implementation.

Uzpromstroybank currently works closely with international and foreign financial institutions such as: the Asian Development Bank; Swiss Credit Suisse; Raiffeisen Bank International AG (Austria), German Landesbank Baden-Wuerttemberg, Commerzbank, ODDO BHF, KFW Ipex- Bank; Russian Gazprombank and AK BARS Bank; South Korean Shinhan Bank, as well as Eximbanks of China, Turkey and South Korea.

From January through October of this year, credit lines worth $354.8 million were attracted from these financial institutions, which were used to finance projects of both large enterprises and small businesses in all directions.


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