Uzbek and German banks signed 100-million-euro agreement

Beijing. February 21. Silkroadnews - The National Bank for Foreign Economic Activity of Uzbekistan and German AKA Bank (AKA Ausfuhrkredit-Gesellschaft mbH) signed a 100-million-euro loan agreement in Frankfurt am Main on February 19, the Uzbek Telegraph Agency (UzTAG) reports.
According to the World Bank, the agreement is aimed at developing trade and economic relations between Uzbekistan and European countries.
In particular, it provides the Uzbek bank with a credit line for funding of investment projects, as well as small business and private enterprise projects with import of goods and services from the Federal Republic of Germany and other EU countries.
The loan agreement was signed within the framework of the order No. PP-3414 by the President of the Republic of Uzbekistan Shavkat Mirziyoyev dated 30.11.2017 “On measures on further expansion of bilateral cooperation of the Republic of Uzbekistan with the Federal Republic of Germany”.
The signed agreement is also a practical implementation of the agreements reached in the course of the visit of Uzbek delegation headed by Prime Minister Abdullah Aripov to Germany on November 14-17, 2017.