Tashkent, Uzbekistan (UzDaily.com) -- Uzpromstroybank and Shinkhanbank (South Korea) signed a basic agreement on trade finance in the amount of US$60 million.

The document provides funding for projects involving the import of technological equipment and services from South Korea and other countries.

Also, Uzpromstroybank and Keb Khan Bank signed an agreement providing access for migrant workers from the Republic of Uzbekistan to Keb Khan Bank’s products, such as Easy-one Banking Remittance (SWIFT account transfers), with a reduction in the cost of fees for transfers made through ATMs (Easy-one service) and mobile applications (KEB Hana mobile banking).

Already the sides successfully made a test transaction for a money transfer from Korea to Uzbekistan. Today, the parties carry out marketing activities to promote this product among customers.

The documents were signed in Tashkent on 17 June as part of the business forum of business people of Uzbekistan and South Korea.