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Finance
02/10/2013
China Development Bank issues US$100m to NBU
China Development Bank issues US$100m to NBU
Tashkent, Uzbekistan (UzDaily.com) --
China State Development Bank and National Bank of Uzbekistan for Foreign Economic Activity signed an agreement on allocation of credit line for US$100 million to finance projects in private sector, RIA Novosti reported.
The credit line will be used to finance purchase of technologies and equipment from China to small and medium businesses, the report said.
The credit line was issued in line with the memorandum on allocation of US$500 million, which was signed between two banks in April 2011 to finance joint projects in 2011-2015.
In November 2011, the Chinese bank issued US$50 million to NBU to finance projects at Jizzakh special industrial zone, which was in process of creation at that time.
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