Senior Vice President of VEB Daniil Algulyan and First Deputy Chairman of the Board of the NBU Nodirbek Saidullayev signed the document.

The financial institutions of two countries agreed to work out issue of joint participation in financing projects in energy sector in Uzbekistan. Within the framework of these projects, Russian high-tech power equipment is expected to be supplied.

VEB is considering possibility of opening credit lines to NBU for US$250 million for a period of up to 10 years in order to finance discussed projects.

Daniil Algulian said that the VEB Group is ready to provide financial support to Uzbekistan’s infrastructure projects, which stipulate supply of Russian high-tech equipment to further expand trade and economic relations between the countries.