Asaka Bank and KfW IPEX-Bank sign loan agreement for 100 million euros

Tashkent, Uzbekistan ( -- Asaka Bank and Germany’s KfW IPEX-Bank have signed a loan agreement worth 100 million euros.

The document was signed in Tashkent on 15 May 2018 as part of the visit of representatives of the German business community to Uzbekistan.

The funds received under this agreement will be used to finance investment projects with a maturity of up to 8 years, envisaging supply of technological equipment from Germany and European countries.

KfW IPEX-Bank is one of the largest German state-owned banks, which was founded in 1948. The main shareholder of KfW is the Federal Government of Germany, which owns 80% of the shares and 20% of the shares are owned by the federal states. The Bank is engaged in supporting small and medium-sized businesses, issuing cheap loans for housing, privatizing state enterprises, and financing export transactions. Through KfW, projects are being implemented to help developing countries.

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