BAKU, Azerbaijan, June 10
By Ilkin Seyfaddini - Trend:
International Bank for Economic Co-operation (IBEC) will allocate Qishloq Qurilish Bank of Uzbekistan a credit line to support enterprises with foreign economic activity, Trend reports citing the Qishloq Qurilish Bank.
"Qishloq Qurilish Bank has signed a general financing agreement with the International Bank for Economic Co-operation, which is headquartered in Moscow. In accordance with the terms of the agreement, the credit line funds will be used to finance supplies of industrial goods, equipment, transport and other products, works and services produced in the IBEC member countries, including Russia, Bulgaria, Slovenia, Vietnam, Mongolia, Poland, Romania and the Czech Republic," said the report.
Such support to enterprises and organizations engaged in foreign economic activity is important especially now, when as a result of the coronavirus epidemic development a huge number of economic entities all over the world suffered.
International Bank for Economic Co-operation is an international financial institution, whose activity is aimed at promoting economic growth, as well as sustainable development of the IBEC member countries. The organization was established in 1963.
The Bank supports development of export-import operations in member countries through granting loans and participation in syndicated lending transactions.
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