The documents were signed during the visit of the delegation of Uzbekistan led by Prime Minister Abdullah Aripov to Germany from 14 to 17 November 2017.

Within the framework of the visit, the Uzbek-German business forum was held in Munich. During the event, NBU signed agreements with the leading German financial intuitions.

In particular, the National Bank for Foreign Economic Activity of Uzbekistan and Deutsche Bank AG signed an agreement worth 500 million euros. The document is aimed at supporting large-scale investment projects in Uzbekistan.

NBU inked an agreement with Commerzbank AG for 350 million euros and AKA Bank for 100 million euros. The banks intend to participate in the financing of investment projects, as well as projects of small business and private entrepreneurship.

The signed loan agreements are “non-guaranteed”, i.e. does not require a government guarantee.