NBU signs loan agreement with Korea Eximbank for US$150m

Tashkent, Uzbekistan (UzDaily.com) -- The National Bank for Foreign Economic Affairs of Uzbekistan and the Korea Eximbank signed a loan agreement for US$150 million.

According to the press service of the Uzbek bank, the agreement envisages allocation of a revolving credit line for financing small business projects, as well as investment projects, envisaging for purchase of equipment, goods and services of South Korean production.

The credit line will finance projects in the fields of agriculture, food industry, medicine, production of building materials, automotive industry, etc.

The loan agreement is “non-guaranteed”, which does not envisage the government guarantee.

Uzbek businessmen show great interest in expanding cooperation with South Korean partners. To date, more than 200 clients of NBU - business entities have expressed their readiness to implement projects involving the purchase of high-tech equipment from South Korea, including due to its own funds, by creating joint ventures, attracting investments, developing loans from Korean banks, for about US$800 million .

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