Uzbek National Bank to receive $150 million from Korean Eximbank
By Kamila Aliyeva
The National Bank of Uzbekistan and South Korea's Eximbank signed a loan agreement in the amount of $150 million.
The agreement was signed during the state visit of Uzbek President Shavkat Mirziyoyev to Korea and involves providing a revolving credit line for financing small business projects, as well as investment projects that envisage the purchase of equipment, goods and services of South Korean production.
The credit line will finance projects in the fields of agriculture, food industry, medicine, construction materials, automotive industry and others.
The loan agreement is non-guaranteed, that is, it does not provide for a government guarantee.
Uzbek entrepreneurs show great interest in expanding cooperation with South Korean partners, according to the National Bank.
Thus, to date, more than 200 clients of the bank have expressed their readiness to implement projects involving the purchase of high-tech equipment from South Korea, including through its own funds, by creating joint ventures, attracting investments, and taking loans from Korean banks worth about $800 million.
The volume of investments of the Republic of Korea attracted to the Uzbek economy exceeds $7 billion. Some 461 enterprises with the participation of South Korean capital operate in Uzbekistan. These enterprises successfully operate in the oil and gas, petrochemical and chemical, machine-building, electrical and textile industries, information and communication technologies, transport, logistics and tourism.
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Kamila Aliyeva is AzerNews’ staff journalist, follow her on Twitter: @Kami_Aliyeva
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