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Meeting with the Chairman of Korea Eximbank

Meeting with the Chairman of Korea Eximbank
During the visit of Uzbekistan Government delegation to Seoul, a meeting has been held between the Deputy Prime Minister, Minister of Investment and Foreign Trade of the Republic of Uzbekistan Sardor Umurzakov and the Chairman and President of Korea Eximbank Bang Moon-kyu.

The leadership of the Bank announced that in spite of the current epidemiological situation and its impact on the global economy, every effort will be made to minimize negative economic factors on the pace of implementation of projects in Uzbekistan.

The Korean side expressed interest in further expanding financial and technical cooperation with Uzbekistan, for which a joint elaboration of an agreement between the Ministry of Investments and Foreign Trade and the Economic Development Cooperation Fund (EDCF) under the Korea Eximbank on cooperation in economic development for 2021-2023, which envisages an increase in the program of preferential financing from $500 million to $1 billion, will begin.

In addition, the parties discussed issues of creation of a joint fund to stimulate the development of small and medium-sized business in Uzbekistan, the concept of which the parties agreed to work out in the near future.

The leadership of the Bank will consider the prospects for deepening cooperation with commercial banks of Uzbekistan by providing additional credit lines in order to increase the financing of projects with participation of entrepreneurs of the two countries.

Following the meeting, priority tasks were identified within the framework of the discussed areas for development of cooperation and a format for further systemic work was agreed.

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