Tashkent, Uzbekistan (UzDaily.com) -- On 29-30 September this year, within the framework of the international economic forum "Uzbekistan: Results and prospects of economic reforms", held in Tashkent.

National Bank for Foreign Economic Affairs of the Republic of Uzbekistan JSC (NBU) and Deutsche Bank of Germany signed a loan agreement to raise a credit line in the amount of US$100 million.

The signing of a loan agreement with Deutsche Bank serves to implement the initiatives of the President of the Republic of Uzbekistan to expand multifaceted cooperation and deepen relations with the Federal Republic of Germany.

The advantage of the signed agreement is the possibility of financing projects related not only to the European Union, but also to Italy, Turkey, India, China, South Korea, Japan, and other countries in various sectors of the economy. In addition, the credit line was attracted without insurance coverage from export credit agencies and a state guarantee of the Republic of Uzbekistan.

Particular attention is paid to financing projects of business entities in the service sector in the regions and in the city of Tashkent of the Republic of Uzbekistan. To improve the well-being of the population in various regions of the country, through the implementation of projects, it is planned to create new jobs.

NBU is ready to develop partnerships with other leading banks in Germany, both through investment cooperation and within the framework of an effective exchange of experience.

The Economic Forum of Uzbekistan - 2021, was held at the initiative of the Ministry of Finance and the Ministry of Economic Development and Poverty Reduction of the Republic of Uzbekistan with the support of the World Bank and the International Finance Corporation, brought together more than 350 representatives of international and Uzbek business and financial circles, international financial institutions, government officials, representatives of non-state organizations and the media.