TASHKENT, Uzbekistan, March 6. The International Islamic Trade Finance Corporation (ITFC) has allocated $15 million to Uzbekistan in cooperation with AgroBank and its subsidiary SmartBank, Trend reports.
This initiative aims to increase the private sector's contribution to Uzbekistan's economic development by providing trade finance solutions. Aimed at supporting the food, agriculture, manufacturing and textile sectors, this financing is also designed to encourage the financing of green projects, in line with sustainable development goals.
Meanwhile, Uzbekistan and the ITFC signed an agreement worth $100 million. The agreement is aimed at strengthening food security in Uzbekistan.
In addition, Uzbekistan and the ITFC signed an agreement on cooperation for $600 million. The document provides for trade financing, as well as financing in agriculture and food security.
These agreements highlight ITFC's commitment not only to Uzbekistan's socio-economic development, but also to promoting regional economic integration through the Trade Connectivity Central Asia+ (TCCA+) program.
This program aims to increase trade and investment cooperation among the six countries, contributing to economic growth and stability in Central Asia.