First deputy Prime-Minister of Uzbekistan - Minister of Finance Rustam Azimov and South Korean Finance Minister Hyun Oh-seok signed the agreement.

The loan will be issued due to resources of Economic Development Cooperation Fund (EDCF). The loan will be issued for 40 years with an annual interest rate of 0.1%.

During the meeting, two ministers agreed to strengthen cooperation in logistical and transport networks.

They also agreed to boost exchange of personnel and technologies among small companies and continue joint work in introduction of information technologies to finance, customs and other administrative affairs.

Uzbekistan and South Korea will continue cooperation within the project on Surgil gas field development and the construction of Utsyurt gas chemical complex.

The sides decided to launch a joint task force for cooperation on a solar power generation plant project under way in Uzbekistan.

Uzbekistan started to realize a project on construction of a 100-megawatt solar power plant in Samarkand. The project cost is US$371 million. The Asian Development Bank (ADB) provided a loan for US$110 million for power plant construction in November 2013.

Both sides agreed to continue exchanging opinions through working-level meetings to achieve tangible within the reached agreements.