Chinese bank allocates credit to NBU
11/06/2010 02:07
Chinese bank allocated credit to NBU
11/06/2010 02:07
Tashkent, Uzbekistan (UzDaily.com) -- National Bank for Foreign Economic Activity of Uzbekistan (NBU) and China Development Bank signed a credit loan.
In line with the document, the Chinese bank allocated US$75 million credit to the National Bank of Uzbekistan. The funds will be directed to finance small and private businesses, as well as investment projects.
In line with the credit agreement, the minimal sub-loan size makes up US$100,000 and the share of Chinese goods supply should be 50%. The credit line was opened for 8 years, including three-year grace period.
China Development Bank opened the credit line to the NBU without state guarantees or insurance of the Export-Importan Agencies.
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