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17.05.2018 12:27

"Qishloq Qurilish Bank" signed a Framework Agreement with Chinese bank

"Qishloq Qurilish Bank" signed a Framework Agreement with Chinese bank The leadership of JSCB "Qishloq Qurilish Bank" held negotiations with representatives of the Industrial and Commercial Bank of China, following which a Framework Agreement on Financial Cooperation was signed.

This Framework Agreement is aimed at implementing the mechanism of regular interbank cooperation within the framework of the One Belt, One Road Initiative and provides for the support of relations between entrepreneurs of Uzbekistan and the People's Republic of China by providing long-term loans, expanding economic and trade relations, as well as investment activities of the two strategic partner countries.

The advantage of this Framework Agreement is that the Chinese partner is ready to finance up to 85% of the amount of the import contract and up to 100% of the cost of insurance coverage of SINOSURE (Chinese Corporation of Export Credit Insurance). Credit funds within the framework of this cooperation can be provided for a period from 3 to 10 years, the final terms for each project are determined on an individual basis.

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