Support for export-oriented enterprises
The subsidiary bank of the National Bank for Foreign Economic Activity of Uzbekistan in the Russian Federation, Asia Invest Bank, continues the consistent implementation of the strategy aimed at supporting the export potential of the Republic of Uzbekistan and expanding Uzbekistan – Russian trade.
Asia Invest Bank has formed products and financial instruments that allow domestic companies to confidently expand their activities and take strong positions in foreign markets.
In May this year, Asia Invest Bank opened a credit line for Uzcotton LLC in the amount of $2 million to pay for the supply from Uzbekistan of knitwear and finished textile products and their further sale to the largest retail chains in Russia.
The Bank provides assistance to enterprises of all sectors, regardless of ownership, including individual entrepreneurs.
Currently, the Bank has formed a portfolio of applications for financing the export of textile and agricultural products from Uzbekistan for a total amount of more than $2 million. In addition, in 2020 projects in the textile sector have already been funded in the amount of more than $1.7 million, in agricultural and food industries – more than $2.5 million.
In June this year, the Bank also launches a pilot project – a factoring credit tool aimed at supporting the export of Uzbekistan products.