NBU agreed with SINOSURE on insurance coverage of projects for US$400 million

Tashkent, Uzbekistan (UzDaily.com) -- The National Bank for Foreign Economic Affairs of the Republic of Uzbekistan (NBU) and China Export and Credit Insurance Corporation SINOSURE have signed a framework agreement on cooperation worth US$400 million.

The document was signed in Tashkent. The agreement envisages provision of insurance coverage by SINOSURE under contracts for the supply of high-tech equipment, manufactured in China to Uzbekistan, for such industries as light industry, construction materials production, agriculture, including fruit and vegetable processing, and others.

SINOSURE will provide insurance support to projects implemented by Chinese companies in our country, funded through the World Bank.

The availability of insurance coverage of SINOSURE will allow financing these supplies both from the financial institutions of the PRC and other foreign banks. In addition, it will also provide an opportunity to reduce the percentage burden for the recipients of loans.

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