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.