On May 2 this year, on the eve of the high-level visit of the President of the Republic of Uzbekistan Shavkat Mirziyoyev to the Federal Republic of Germany, the Uzbekistan – Germany Business Forum was held with the participation of leading German companies and financial institutions of the two countries.

The business platform allowed the business circles of the two countries to discuss the potential of bilateral relations, identify new growth points and opportunities for building up business contacts, enhancing mutual investment and increasing trade between Uzbekistan and Germany.

According to the NBU, as part of the business forum, the JSC National Bank for Foreign Economic Activity of the Republic of Uzbekistan (NBU) and Deutsche Bank AG signed a loan agreement to attract a credit line for €130 million.

The main advantage of this agreement is the possibility of attracting financing for investment projects without providing a state guarantee from the Republic of Uzbekistan.

Through the credit line, the NBU will finance transport, mining and metallurgy, electrical industry and production projects for €185 million.

The implementation of these projects will improve the transport infrastructure and expand the industrial production of enterprises, including creating more than 1,000 new jobs and ensuring the export of high-value-added products for over €20 million.

The signed agreement serves as a logical continuation of the successful and fruitful partnership between the NBU and Deutsche Bank AG, which has a history of more than 30 years. In addition to project financing, the NBU has established cooperation with Deutsche Bank AG in trade finance, treasury operations, settlement business, and exchange of experience.

UzA