TASHKENT, Uzbekistan, November 15. Deutsche Bank and Uzbekistan have reached a preliminary agreement for the allocation of $1 billion for projects in Uzbek Namangan region, Trend reports.
The news followed a meeting between the administration of Namangan region headed by Shavkatjon Abdurazakov and Deutsche Bank Executive Director Joerg Bongarz.
During the talks, Bongarz also invited Namangan banks to attend a board meeting in the UAE. In addition, a joint commission will start working in the spring of 2024, which will prepare for the German-Namangan business forum.
Earlier this year, Deutsche Bank AG and Uzbekneftegaz JSC, a state-owned holding company of Uzbekistan's oil and gas industry, agreed to prepare a concept project for the creation of an electronic platform to facilitate information exchange.
In the future, this platform will serve as a venue for discussing financial instruments offered by the bank to enhance the attractiveness of Uzbekistan's investment market and attract investors.
Deutsche Bank AG is one of the largest banks in Germany in terms of assets and a major participant in the foreign exchange market, serving 28 million customers through branches and offices in 59 countries worldwide.