Uzbekistan and IITFC sign framework agreement

Tashkent, Uzbekistan (UzDaily.com) -- Uzbekistan and the International Islamic Trade and Finance Corporation (IITFC) signed a framework agreement.

The signing ceremony took place at the State Investment Committee of Uzbekistan.

Under the agreement, IITFC will provide short-term loans to companies in Uzbekistan for up to US$100 million over two years (US$50 million a year) for pre-export financing, financing of imports of basic raw materials and any other goods, and other export operations.

The International Islamic Trade Finance Corporation (IITFC) is an autonomous unit of the Islamic Development Bank group. It was created to promote trade to improve the economic condition and livelihoods of people throughout the Islamic world.

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