Baku, Azerbaijan, May 16
By Fikret Dolukhanov – Trend:
The Uzbek joint-stock commercial bank Asaka and the German KfW IPEX-Bank have signed a loan agreement worth 100 million euros, the press service of the Uzbek bank stated on May 16.
The document was signed in Tashkent on May 15, 2018 as part of the visit of representatives of the German business community to Uzbekistan.
The funds received under this agreement will be used to finance investment projects with a maturity of up to 8 years, providing for the supply of technological equipment from Germany and European countries.
KfW IPEX-Bank is one of the largest German state-owned banks, founded in 1948. The main shareholder of KfW is the Federal Government of Germany, which owns 80 percent of the shares, with 20 percent of the shares being owned by the federal lands.
The Bank is engaged in supporting small and medium-sized businesses, issuing affordable loans for housing, privatizing state enterprises, and financing export transactions. Projects aimed at assisting developing are being implemented through KfW. The Bank is holding leading positions in the list of the most reliable banks in the world according to the rating of the ‘Global Finance’ magazine.
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