On January 14, Qishloq Qurilish Bank and KfW IPEX-Bank signed an agreement amounting to 50 million euros within the framework of Uzbekistan – Germany Business Forum, in Berlin.

The signed agreement provides for new cooperation between KfW IPEX-Bank and Qishlok Qurilish Bank on providing a long-term credit line of at least three million euros for up to 10 years.

According to Qishloq Qurilish Bank, Within the framework of the agreement, it is planned to invest funds for purchasing modern equipment and organization of production of high value-added products from Germany, the European Union and other countries, which will create prerequisites for further improving small business and production capacities, as well as for creating new jobs.

Cooperation between the financial institutions of Uzbekistan and Germany will serve to strengthen economic partnership that are rapidly developing between the two countries.
KfW IPEX-Bank is one of the banks of the KfW Group, founded in 2008 as a member of this group. The main task of KfW IPEX-Bank is economic support of German and European companies in financing projects and exports. The bank’s assets amount to 30.1 billion USD.

Source: UzA