Uzbek banks acquire over $1B worth of foreign loans

Finance Materials 26 January 2019 11:33 (UTC +04:00)

Baku, Azerbaijan, January 26:


Commercial banks of Uzbekistan acquired foreign credit lines for the development of small business and private entrepreneurship in the amount of about $1.04 billion in 2018 which is two times more compared to 2017, Trend reports via UzDaily.

The volume of loans provided by foreign banks amounted to $397.9 million and international financial organizations to $641.4 million in 2018, the message of Uzbek Central Bank said.

The main creditors in 2018 were such international financial organizations and foreign banks as the International Bank for Reconstruction and Development ($220.7 million), the State Development Bank of China ($161.8 million), the Asian Development Bank ($179.5 million) and Commerzbank (Germany, $151.6 million).

The most active in the development of foreign credit lines were Asaka Bank ($ 234.9 million), National Bank for Foreign Trade ($ 216.5 million) and Hamkkorbank ($ 131.7 million).