Tashkent, Uzbekistan (UzDaily.com) -- On the eve of the state visit of the President of the Republic of Uzbekistan Shavkat Mirziyoyev to the Federal Republic of Germany, on 14 January, 2019, during the German-Uzbek business forum, National Bank of Uzbekistan for Foreign Economic Affairs and AKA Bank signed a basic loan agreement worth 100 million euros.

The key advantage of the agreement with the leading German bank is the ability to finance projects in various sectors of the economy, including small and medium-sized businesses, under the insurance coverage of Euler Hermes, Europe’s leading export credit agency (ECA), as well as trade finance projects (using pre-export financing, documentary letters of credit, guarantees, post-financing).

In addition, as part of the loan agreement, NBU and its major customers will get access to European capital markets, and will also be able to attract loan funds on more attractive and favorable conditions.

The agreement confirms further development of cooperation between NBU and AKA Bank, as well as the growing confidence of German banks in the banking system of Uzbekistan.