NBU signs agreements with German banks for 950 million euros

Askar Yakubov · 07:04, 16.11.2017 · Updated 23:24 · 354 views

Tashkent, Uzbekistan (UzDaily.uz) -- National Bank for Foreign Economic Affairs of the Republic of Uzbekistan (NBU) and leading German banks signed loan agreements totaling 950 million euros.

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.

Askar Yakubov

Askar Yakubov is a professional photojournalist with extensive experience in news and reportage photography. He specializes in fast-paced coverage of social, political, cultural, international, business, and community events, with a sharp eye for capturing expressive shots and conveying the atmosphere of an event under tight time constraints. His skill set spans reportage, portrait, and documentary photography, along with image editing and color correction, and preparing photo materials for media and digital platforms. He is known for his professionalism, adherence to editorial standards, and ability to work both independently and as part of a shooting team.