BAKU, Azerbaijan, Aug. 19
By Ilkin Seyfaddini - Trend:
Uzbek Agrobank has allocated a loan of 2.9 billion soum ($282,645) for implementation of business project on maintenance of agricultural enterprises in Sardoba district, Trend reports citing the bank.
Uzbek Imkon qadri LLC purchased eight grain harvesters via the loan provided by the bank.
In addition, the branch of Agrobank in Mirzaabad district allocated a loan of 2.2 billion soum ($214,420) for a business project implementation of the local farm.
The project plans to introduce modern drip irrigation technology. This will help not only to use water resources rationally, but also to increase crop yield.
"Agrobank is also actively working to develop business in flood-affected areas (Sardoba water reservoir disaster). One of the main tasks of the bank is the full provision of banking services, which contributes to the further development of the Uzbek economy," the message said.
In June 2020, Fitch Ratings has affirmed the Long-Term Issuer Default Ratings (IDRs) of Agrobank at 'BB', with the Stable outlook.
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