VTB provides credit line to Uzbek Agrobank

Finance Materials 28 April 2020 15:13 (UTC +04:00)
VTB provides credit line to Uzbek Agrobank

BAKU, Azerbaijan, Apr. 28

By Ilkin Seyfaddini – Trend:

Bank of Germany will allocate credit resources to JSCB Agrobank of Uzbekistan in the amount of 20 million euros to support foreign trade operations of Uzbekistan, Trend reports citing Uzbek media.

JSCB Agrobank and VTB Bank (Europe) SE signed an agreement in the field of trade finance.

The agreement was signed to contribute to the mitigation of the coronovirus pandemic, to ensure uninterrupted financing of urgent projects aimed at food security, pharmaceuticals, as well as to replenish the working capital of the exporters' enterprises.

"Credit resources will allow customers of Agrobank to activate and expand their activities," the report said.

Earlier, in the "Best Bank of 2020" contest held by AsiaMoney magazine (Best Bank Awards-2020), Uzbekistan's Agrobank was named the winner in the 'Best Digital Bank' category.

VTB Bank (Europe) SE is part of the VTB Group (Russia), providing a wide range of services across the Global Corporate Investment Business (CIB) platform.


Follow the author on Twitter: @seyfaddini