BAKU, Azerbaijan, November 11. Uzbekistan's Technological Metals Combine (TMK) has discussed attracting international financing for new industrial projects focused on the processing of critical minerals with representatives of South Korea's Export-Import Bank (KEXIM), the Asian Development Bank (ADB) and the Uzbekistan Fund for Reconstruction and Development during a meeting in Uzbekistan on November 9.
According to TMK, the discussions took place during the first meeting of the working group of the Korea-Uzbekistan Critical Minerals Cooperation Platform, established under a quadrilateral memorandum signed during Uzbek President Shavkat Mirziyoyev's state visit to South Korea.
During the meeting, TMK presented a portfolio of promising industrial projects and explored opportunities to secure financing through international credit facilities and co-financing mechanisms.
Additionally, the parties discussed technical assistance, expanded technological cooperation with South Korean companies and potential financing structures for priority projects.
They exchanged views on key areas of cooperation and agreed to continue discussions within the working group, identify priority projects and gradually move toward their practical implementation.
The cooperation is aimed at expanding the domestic processing of critical minerals, developing higher-value-added manufacturing and strengthening Uzbekistan's position in global industrial supply chains.
The Export-Import Bank of Korea (KEXIM) is South Korea's official export credit agency, providing loans, guarantees and financing for overseas investment and resource development projects. The Asian Development Bank (ADB), a multilateral development bank established in 1966, supports economic development across Asia and the Pacific through financing, technical assistance and advisory services. Uzbekistan's Fund for Reconstruction and Development, established in 2006, finances projects aimed at modernizing key economic sectors and developing industrial and infrastructure capacity.
