BAKU, Azerbaijan, Oct. 14
By Fakhri Vakilov – Trend:
The European Bank for Reconstruction and Development (EBRD) will help Uzbekistan to introduce swap operations, Trend reports citing press service of Uzbekistan’s Ministry of Finance.
Representatives of the EBRD and the Ministry of Finance signed the ISDA General Agreement developed by the International Swaps and Derivatives Association to conduct the first test swap operation in the country.
Swap is an exchange of assets (securities, currency) for a specified period. It is used to increase the amount of assets and liabilities - financing secured by shares, reducing or changing the nature of risks and other operations.
To date, the EBRD has invested nearly 2.6 billion euros in 101 projects in Uzbekistan.
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