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Uzpromstroybank expands cooperation with the largest banks of Germany
9 Nov 2021

Uzpromstroybank expands cooperation with the largest banks of Germany

    Currently, representatives of Uzpromstroybank as part of the delegation of Uzbekistan arrive in Germany to participate in the 5th meeting of the German-Uzbek Business Council, in the conference of the Eastern Committee of the German economy "Central Asia - an economic hub between Europe and Asia", as well as in the "round table" on the topic "Uzbekistan: opportunities for trade and investment", organized by the Ministry of Economy of Bavaria and the Bavarian Economic Association with the participation of representatives of leading companies region.

   Within the framework of this visit on 8 November 2021, Uzpromstroybank signed a number of documents totaling 160.7 million euros, aimed at further strengthening and developing bilateral cooperation with the largest banks of the Federal Republic of Germany, such as Landesbank Baden-Wurttemberg and Commerzbank AG.

   In particular, a Cooperation Agreement for the implementation of projects worth 13.9 million euros was signed with Commerzbank AG. The document envisages support of industrial enterprises of the country by financing projects aimed at increasing production capacity, introducing modern technologies into the production process, expanding the range of high-quality products and creating additional jobs.

   An Individual Loan Agreement in the amount of 66.8 million euros was signed with Landesbank Baden-Wurttemberg, stipulating financing an increase in the production capacity of one of the largest textile enterprises in the country, as well as an Additional Agreement on Trade Finance in the amount of 80.0 million euros aimed at increasing the volume of financial resources Uzpromstroybank for business development in the Republic of Uzbekistan, including support for local exporters and importers.

   Landesbank Baden-Wuerttemberg (federal bank of the state of Baden-Wuerttemberg) is a German international universal commercial bank. One of the ten largest banks in Germany, the largest land bank.

   Commerzbank AG is a large German bank operating as a universal bank, headquartered in Frankfurt am Main. In fiscal 2019, the bank was the second largest bank in Germany in terms of assets. The bank is present in more than 50 countries around the world and provides almost a third of Germany's trade finance.

https://uzdaily.uz/en/post/69362

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