NBU and China’s Exim Bank Sign Strategic Partnership Agreement

Tashkent, Uzbekistan (UzDaily.com) — The National Bank for Foreign Economic Activity of the Republic of Uzbekistan (NBU) and the Export-Import Bank of China (Exim Bank of China) have signed a Strategic Partnership Agreement, elevating their long-standing cooperation to a new level, the press service of Uzbek bank said.

The agreement was signed during the annual Financial Street Forum 2025 held in Beijing from 27–29 October under the theme “Global Financial Development in the Era of Innovation, Transformation, and Restructuring.”

During the meeting with Chen Huaiyu, Chairman of the Board of Directors of Exim Bank of China, the parties reviewed over 20 years of successful collaboration. During this period, with the support of Exim Bank, infrastructure and social projects worth approximately US$1.8 billion were implemented in Uzbekistan, covering energy, transport, telecommunications, healthcare, education, water management, and industry.

The new agreement provides for a deepening of the strategic partnership, as well as the expansion of settlements in national currencies to strengthen the resilience of bilateral financial relations and diversify currency operations. The successful implementation of a 2 billion yuan credit line, signed in May 2023 in Xi’an as part of the first “Central Asia–China” Summit, was also highlighted.

New areas of cooperation include renewable energy, metallurgy, transport infrastructure, tourism, airport modernization, and the development of the services sector. Exim Bank of China announced its intention to open a new credit line worth US$100 million equivalent in yuan, which will support priority investment projects and further expand the use of national currencies in settlements.

The banking partnership develops within the framework of comprehensive strategic cooperation between Uzbekistan and China, which has reached record levels due to active political dialogue between the leaders of both countries. In 2024, bilateral trade amounted to US$14 billion, while the total portfolio of investment projects reached approximately US$60 billion. More than 3,500 enterprises with Chinese capital operate in Uzbekistan, reflecting the steady growth of economic ties.

Exim Bank of China, established in 1994, is one of the country’s three policy banks. At the end of 2024, its assets totaled US$886 billion, capital US$54 billion, and net profit US$400 million.