On the eve of the state visit of the President of the Republic of Uzbekistan to the Federal Republic of Germany, on 14 January 2019 within the framework of the German-Uzbek business forum held in Berlin, National Bank of Uzbekistan for Foreign Economic Activity signed a basic loan agreement for 300 million euros with Raiffeisenbank Germany.
The agreement envisages financing of exports of high-tech equipment and technology from the European Union, under the insurance coverage of export credit agencies (ECA). Co-financing of large investment projects in Uzbekistan is also expected through the provision of a credit line on a long-term basis for up to 7 years.
The agreement with Raiffeisenbank Germany will contribute to stimulate the growth of the export potential of Uzbekistan, attraction of foreign investment and growth of the competitiveness of local producers in the domestic and foreign markets, as well as creation and improvement of the investment and business environment for broad business development.
