Uzbekneftegaz, JPMorgan Chase bank discuss cooperation issues

Tashkent, Uzbekistan (UzDaily.com) -- On 1 February, a meeting was held between representatives of Uzbekneftegaz and JPMorgan Chase Bank on the next stages of cooperation. This was reported by the press service of Uzbekneftegaz.

At the meeting, representatives of Uzbekneftegaz informed about the general activities of the company, the results achieved, the ongoing transformation processes and ongoing reforms on investment projects.

JPMorgan Chase also informed about credit risk in projects, attraction of loans under the insurance coverage of ECA (Export Credit Agencies) and changes in the direction of international financial markets.

Representatives of JPMorgan Chase noted that there is high volatility in the international debt market and a return to a stable level is expected.

In addition, representatives of the bank expressed their views and proposals on trade finance for projects implemented by Uzbekneftegaz.

Also, negotiations were held with representatives of the bank on hedging and reducing risks in financial assets.

In turn, the processes of projects implemented by Uzbekneftegaz and the financial instruments offered by the bank for these projects were discussed with a foreign bank.

Following the negotiations, representatives of Uzbekneftegaz expressed interest in further expanding ties with JPMorgan Chase to develop cooperation and project financing.