Tashkent, Uzbekistan (UzDaily.com) -- On 14 January 2019, as part of the Uzbek-German business forum in Berlin, held on the eve of the state visit of the President of the Republic of Uzbekistan Shavkat Mirziyoyev to Germany, National Bank of Uzbekistan For Foreign Economic Activity (NBU) and German KfW IPEX – Bank signed a basic loan agreement worth 100 million euros.

In the framework of the reforms carried out in the Republic of Uzbekistan, considerable attention is paid to projects based on European technologies, allowing to organize the production of products with high added value in all promising areas of the economy.

The signed agreement launches a new page of cooperation with KfW IPEX – Bank in providing long-term credit line to NBU for financing large investment projects with a minimum amount of 5 million euros and with a term of up to 10 years.

The loans can be used to finance projects in all sectors of economy with attraction of equipment and services from Germany and other European Union states under insurance coverage of export credit agencies Euler Hermes, SACE and SERV.

The cooperation of NBU and KfW IPEX – Bank will give a new impetus to the development of trade and economic relations between Uzbekistan and Germany, as well as serve to intensify bilateral relations in other promising areas.