Credit Re­source

Uzbekistan Today (English) - - BUSINESS -

The Na­tional Bank of Uzbek­istan (NBU) and Korea Ex­imbank have signed a loan agree­ment for $ 150 mil­lion.

The agree­ment en­vis­ages the pro­vi­sion of a credit line for fi­nanc­ing small busi­ness ini­tia­tives, as well as in­vest­ment projects in­volv­ing the pur­chase of equip­ment, goods and ser­vices of South Korean pro­duc­tion.

«The credit line will fi­nance projects in the fields of agri­cul­ture, food in­dus­try, medicine, con­struc­tion ma­te­ri­als, au­to­mo­tive in­dus­try and oth­ers. The loan agree­ment is non-guar­an­teed and does not pro­vide for a gov­ern­ment guar­an­tee,» the Na­tional Bank said.

The con­cluded agree­ments were the re­sult of a great in­ter­est in ex­pand­ing co­op­er­a­tion with South Korean part­ners, which is shown by Uzbek busi­ness­men. So, ac­cord­ing to the bank, to date, more than 200 of its clients have ex­pressed their readi­ness to im­ple­ment ini­tia­tives that in­volve the pur­chase of high-tech equip­ment from South Korea and the cre­ation of joint ven­tures, the devel­op­ment of loans of Korean banks worth about $ 800 mil­lion.

Over the past few months, the NBU has en­tered into loan agree­ments with lead­ing banks in Ger­many for a to­tal of 950 mil­lion eu­ros, the Euro­pean Bank for Re­con­struc­tion and Devel­op­ment - $ 100 mil­lion, Rus­sian Gazprom­bank $ 153 mil­lion, the Rus­sian ex­port cen­ter - $ 100 mil­lion, as well as with the Turk­ish ex­port-credit Türk Ex­imbank - $ 44 mil­lion.

The Na­tional Bank of Uzbek­istan was es­tab­lished in Septem­ber 1991 and to­day it is the largest fi­nan­cial in­sti­tu­tion in the coun­try.

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