On May 19 this year, within the framework of the high-level visit of the President of the Republic of Uzbekistan Shavkat Mirziyoyev to the People’s Republic of China, an agreement was signed to attract a new credit line of 2 billion yuan.

The main advantage of this credit line is the ability to access long-term financial resources in the Chinese yuan at attractive interest rates in the context of high volatility in the cost of financing in the international interbank borrowing market.

The credit line of the Export-Import Bank of China will be used to finance investment projects for small and medium-sized businesses in the Republic of Uzbekistan, implemented with the participation of leading Chinese manufacturers and suppliers. The total cost of these projects is 2.8 billion yuan in information technology, telecommunications, alternative energy, electrical engineering, textiles, transportation, industrial production, and others.

As a result of implementing the above projects, over 1,500 new jobs will be created, and export-oriented products with high-added value will be produced for $150 million.

UzA