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German bank allocates loan to support small and medium-sized businesses in Uzbekistan

Uzbekistan Materials 16 November 2021 18:50 (UTC +04:00)

BAKU, Azerbaijan, Nov 16

By Natavan Rzayeva - Trend:

The German KfW Development Bank allocated a loan for the financial support of small and medium-sized businesses in Uzbekistan, Trend reports referring to the press services of the president of Uzbekistan.

A loan and grant agreements were signed with the bank on the allocation of a loan at a rate of 2 percent per annum for a period of 30 years, including a grace period of 10 years.

The total cost of the project is estimated at 29.8 million euros, of which the KfW loan is 26.8 million euros, the KfW grant is 3 million euros for consulting services.

The project will be implemented from 2021 through 2024 in all regions of the country.

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