Uzbekistan’s Agrobank plans to attract US$22.8m ADB funds
Tashkent, Uzbekistan (UzDaily.com) --
Agrobank open joint-stock company plans to attract US$22.8 million funds of the Asian Development Bank (ADB) by the end of 2009. The bank will finance about 171 enterprises due to these funds.
The bank said the sides have been cooperating since 2001. Agrobank attracted ADB financial resources on three credit lines.
The Uzbek bank attracted US$13.4 million of soft loans within the agreement of ADB and Uzbekistan on US$15 million credit line from 13 September 2001. Agrobank financed 15 projects within the credit line.
On 2 November 2004, the ADB and Uzbekistan signed another loan agreement (US$7m) and Agrobank received US$6.9 million soft loans to agriculture projects. The bank financed 93 projects in Jizzakh, Tashkent and Samarkand region.
The ADB and Uzbekistan also signed loan agreement on rehabilitation of Amuzang channel worth US$3.2 million and Agrobank got US$2.5 million of soft loan. About 63 projects of agriculture producers in five districts of Surkhandarya region received financing.
Agrobank said it repaid US$8.9 million to ADB in line with loan repayment schedule, of which US$4.9 million is main loan and US$4 million - interests.
Agrobank said the partnership of the sides is developing and there are plans to attract other soft loans to finance various sectors of economy.