BAKU, Azerbaijan, Sept. 30
By Fakhri Vakilov – Trend:
Uzbekistan’s Uzpromstroybank signed a number of agreements totaling $71.6 million with foreign partners, Trend reports citing Uzbek media.
The signing of the agreements took place at Uzbekistan Economic Forum 2021 currently being held in Tashkent.
Uzpromstroybank and UK's ICBC Standard Bank signed an Agreement on the provision of a credit line to Uzbek bank in the amount of $25 million.
Moreover, Uzbek and UK banks signed a Memorandum of Understanding providing for the development and strengthening of relations between banks in the areas of international settlements, treasury operations, trade and project financing as well as the organization of training courses, seminars, training and internship programs for employees of Uzpromstroybank.
In order to expand funding opportunities in the field of trade finance, the bank signed an agreement with the Asian Development Bank "On the provision of a revolving credit line" in the amount of $16.6 million and a Framework Agreement on Trade Finance with Russian AK Bars Bank for the amount of $30 million.
The signing of these agreements will allow Uzpromstroybank to direct funds through these credit lines to the most popular projects of business entities, including small and medium-sized businesses throughout the country.
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