On May 15, 2018 a basic loan agreement worth 100 million Euros was signed between the JSCB Uzbek Industrial and Construction Bank and German KfW IPEX-Bank, in Tashkent.
The purpose of this agreement is to support entrepreneurs in implementing investment projects in the Republic of Uzbekistan, as well as their efforts on creating additional jobs by financing purchases of high-tech equipment, goods and services from European countries. Financing is provided for up to 10 years under the guarantees of export credit agencies of European countries, including Euler Hermes, SERV and SACE.
It should be noted that Uzbek Industrial and Construction Bank actively cooperates and uses credit lines of such leading German banks as Commerzbank AG and Landesbank Baden-Württemberg for financing projects in such industries as automotive, chemical industry, and various types of small business projects.
KfW IPEX-Bank within the banking group KfW is engaged in project and corporate financing in Germany and abroad, as well as export financing.
Over the past 10 years KfW IPEX-Bank has financed more than 3,000 projects and the volume of loans issued by this bank amounted to 143 billion Euros.
It is noteworthy that this credit line is attracted without the mechanism of granting the state guarantee of the Republic of Uzbekistan.