The National Bank for Foreign Economic Activity of Uzbekistan (NBU) has entered into a new agreement with the Export-Import Bank of China, attracting 700 million yuan, equivalent to approximately $100 million. This was announced by Alisher Mirsoatov, Chairman of the NBU Management Board.
The agreement is seen as another step in the development of strategic financial partnership between Uzbekistan and China. According to the parties, the new credit line should contribute to expanding mutual trade and increasing the volume of long-term investments.
NBU is already one of the key channels for attracting financing in Chinese currency. With the new agreement, the total volume of credit lines in yuan attracted by the bank has exceeded 11.5 billion yuan.
The attracted funds are planned to be used to support priority investment projects, purchase high-tech equipment abroad, and reduce currency risks for Uzbek companies when settling with Chinese partners.