As part of the official visit of the President of the Republic of Uzbekistan Shavkat Mirziyoyev to the Federal Republic of Germany, an additional agreement for 100 million euros was signed between Uzbekistan Industrial and Construction Bank – SQB and Commerzbank AG.

During the visit of the President of Uzbekistan to Germany, a Business Forum was held in Berlin. Several important documents aimed at enhancing mutually beneficial trade and economic cooperation were signed at the forum.

In particular, the international meeting of businesspeople opened up new opportunities for SQB in developing mutual relations with Commerzbank AG.

In accordance with the agreement, the funds raised from this foreign financial institution will be used to provide financial support to small and medium-sized businesses.

It should be noted that in the system of SQB in the field of international cooperation, partnership with the banking and financial sector of Germany is enhancing.

In particular, loan agreements were signed with LBBW and Helaba for 100 million euros. On April 27 this year, within the framework of the second Tashkent International Investment Forum held in Uzbekistan, a Cooperation Agreement was signed with Germany’s Helaba for 35 million euros.

At the Business Forum, the parties noted that these agreements will serve to expand contacts between the business circles of the two states and develop the business sector in Uzbekistan.

UzA