TASHKENT, Uzbekistan, May 31. German Deutsche Bank allocated a syndicated loan of 165 million euros to Uzbekistan’s Uzpromstroybank, Trend reports.
According to Uzpromstroybank, the loan will be used to create new jobs, produce industrial and construction materials, and finance projects in the direction of medium-sized businesses with the involvement of foreign investors in Uzbekistan.
In addition, the president of Uzbekistan has defined specific tasks for commercial banks aimed at attracting foreign investments and supporting investment projects of clients with an expansion of sources of external financing. Thus, the syndicated loan will be implemented within the framework of fulfilling these instructions.
Earlier in 2023, Deutsche Bank and Uzbekneftegaz, a state-owned holding company of Uzbekistan's oil and gas industry, agreed to prepare a concept project for the creation of an electronic platform to facilitate information exchange.
In the future, this platform will serve as a venue for discussing financial instruments offered by the bank to enhance the attractiveness of Uzbekistan's investment market and attract investors.
Deutsche Bank is one of the largest banks in Germany in terms of assets and a major participant in the foreign exchange market, serving 28 million customers through branches and offices in 59 countries worldwide.
