Tashkent, Uzbekistan (UzDaily.com) -- National Bank for Foreign Economic Activity of the Republic of Uzbekistan (NBU) and Sberbank of Russia signed a cooperation agreement for US$350 million.

The agreement envisages cooperation with the Russian Sberbank on financing of large projects, as well as projects in the field of small business and private entrepreneurship.

In addition, this agreement will allow NBU customers to use a wide range of Sberbank services such as financing structuring, trade financing, project financing, as well as using Sberbank databases to select reliable and proven suppliers of goods and services.

The advantage of this credit line is the possibility of financing the supply of high-tech equipment and services not only from Russia, but also from other countries of the world where the branch network of Sberbank is present (Belarus, Kazakhstan, Turkey, Switzerland, Czech Republic, Hungary, Serbia, Croatia, Slovenia, Bosnia and Herzegovina).

The credit line of Sberbank is attracted under the insurance coverage of export credit agencies, without a state guarantee.

Cooperation with Sberbank of Russia is not limited to attracting credit resources, but also involves training employees of NBU at Sberbank Corporate University.