BAKU, Azerbaijan, Dec. 28
By Klavdiya Romakayeva - Trend:
National Bank for Foreign Economic Activity of Uzbekistan signed loan agreements with VEB.RF state development corporation and Roseximbank JSC to attract credit lines in the amount of 4.8 billion Russian rubles ($64.1 million) for the purchase of modern road special equipment for Uzbekistan, Trend reports citing the bank.
A working meeting of the delegation of the National Bank of Uzbekistan with the leadership of VEB.RF state development corporation and Roseximbank JSC was held on December 25 this year in Moscow, during which the results of cooperation of the current year were summed up, both within the framework of bilateral interbank cooperation and Interbank Consortium within the Shanghai Cooperation Organization (ICO SCO), as well as plans and opportunities for financing promising projects for 2021, were discussed.
The result of this meeting was the signing of agreements on the opening of credit lines with VEB.RF and Roseximbank JSC for a total of 4.8 billion rubles ($64.1 million) on the terms of a subsidized preferential Roseximbank interest rate.
Under the attracted credit lines, it is envisaged to implement a project for the purchase of modern road special equipment in the amount of 581 units for the needs of the State Committee for Roads under the Ministry of Transport, the administration of Tashkent, and 12 cities of Uzbekistan.
“Fruitful cooperation of the National Bank with the largest banks of Russia, such as VEB.RF and Roseximbank is an effective continuation of the course taken to expand the capabilities of the banking system of our republic in the development of new credit lines and the provision of quality services,” the statement said.
It was also noted that the attraction of credit lines of Russian financial institutions in rubles is a practical implementation of the agreements of the member banks of the Interbank Association of the Shanghai Cooperation Organization on Joint Approaches to the issue of expanding the use of national currencies in the SCO area.
The National Bank jointly in VEB.RF is implementing a number of investment projects, in particular, to date, six loan agreements have been concluded for a total amount of $275 million and financing projects in the field of hydropower, thermal power, transport, and urban infrastructure development.
---
Follow the author on Twitter: @romakayeva
