BAKU, Azerbaijan, Sept. 30
By Fakhri Vakilov – Trend:
National Bank of Uzbekistan and Russian Sovcombank signed a general agreement on attracting a credit line in the amount of $50 million, Trend reports citing Uzbek media.
The signing of an agreement took place at Uzbekistan Economic Forum 2021 currently being held in Tashkent.
The general agreement provides for the attraction of a credit line of Sovcombank for a period of up to 7 years without providing a state guarantee to Uzbekistan and insurance coverage of export credit agencies.
National Bank will use credit line to finance investment projects and small and medium sized enterprises (SME) projects that provide for the purchase of goods, equipment and services not only from Russia, but also from other countries (the EU, Turkey, China).
The signed agreement will serve as the basis for expanding strategic cooperation and partnership with Russia in the banking and financial area, as well as finance projects of new manufacturing enterprises and increase the design capacity of existing production, create new industrial zones and thereby increase the number of new jobs.
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