TASHKENT, Uzbekistan, November 5. Uzbekistan’s Business Development Bank and French Development Agency (AFD) have signed a loan agreement for 30 million euros, Trend reports.
In accordance with the document, Uzbek Business Development Bank and AFD will bolster cooperation in the development of renewable energy sources, energy efficiency and women's entrepreneurship.
The parties will also cooperate in the training of specialists of the Business Development Bank.
Meanwhile, extensive cooperation between AFD and Uzbekistan was laid during the official visit of President Shavkat Mirziyoyev to Paris in November 2022. Within the framework of this visit, the Government of Uzbekistan and the French Development Agency signed a program of strategic cooperation until 2025.
According to the program, it is planned to implement joint projects in agriculture, energy, green economy, urban planning, water supply, banking and finance and transport.
Earlier this year, Uzbekistan has established a Business Development Bank to provide further support for local small businesses.
Business Development Bank provides loans for up to 7 years for small business projects. For business entities with a positive credit and tax history, the requirement for collateral is reduced by 50 percent.