BAKU, Azerbaijan, Sept. 30
By Fakhri Vakilov – Trend:
German KfW Development Bank will allocate a loan to Uzbekistan in the amount of 26.8 million euros within the framework of the "Financial Support for Small and Medium Business" project, Trend reports referring to Ministry of Finance of Uzbekistan.
The signing of the agreement took place at the Economic Forum of Uzbekistan-2021 currently being held in Tashkent.
According to the Ministry of Finance, the loan will be provided at a 2 percent rate for 30 years with a 10 year grace period.
Loan funds will be allocated to entrepreneurs in all sectors of the economy for a period of at least 3 years and in the amount of not more than 400,000 euros.
KfW Development Bank has been helping the German Federal Government to achieve its goals in development policy and international development cooperation for more than 50 years.
In this regard, it is both an experienced bank and a development institution with financing expertise, an expert knowledge of development policy and many years of national and international experience.
The bank finance and support programs and projects that mainly involve public sector players in developing countries and emerging economies Bank's goal is to help partner countries fight poverty, maintain peace, protect both the environment and the climate and shape globalization in an appropriate way.
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