TASHKENT, Uzbekistan, February 27. Uzbekistan's state-owned companies, Uzbekneftegaz and Uzkimyosanoat, met with representatives from Abu Dhabi Commercial Bank (ADCB), the third-largest financial institution in the UAE, to discuss increasing credit volumes and expanding their financial cooperation, Trend reports.
In the meeting, both companies laid their cards on the table, showcasing their progress, transformation initiatives, and reforms in project implementation, all while shining a light on their economic stability. The talks revolved around how to tighten the screws on the partnership, including the possibility of spinning up a renewable credit line or widening the net on existing agreements.
ADCB officials confirmed their willingness to provide extensive support in financing Uzbekneftegaz’s operations across all sectors for the year 2025. The collaboration between Uzbekneftegaz and ADCB was first formalized through a club agreement that covers areas such as crediting and Eurobond issuance.
The bank plays a key role in the evaluation, pricing, investor attraction, and coordination of Eurobond issuances, as well as managing agreements with investors.
Upon conclusion of the discussions, both parties articulated their enthusiasm for the ongoing enhancement of collaborative synergies, with a strategic focus on catalyzing additional economic advancement within Uzbekistan's critical sectors.
