The Russian Export Center (EXIAR) will open credit lines for four Uzbek banks for a total of $ 300 million, the company general director, Pyotr Fradkov said today in Tashkent.
"We held fruitful negotiations with a number of Uzbek banks, including the NBU, Asaka, UzPromStroyBank and Orient Finance banks, and agreed that within a month EXIAR will open credit lines for these banks to finance projects as part of Uzbek-Russian cooperation, and this is only the first phase," Fradkov said.
EXIAR is not a newcomer at the Uzbek market, having already financed $ 327 million worth of projects in the chemical, metallurgy, power engineering and electrical engineering industries.
According to Fradkov, Uzbekistan in terms of exports is becoming an increasingly important partner for the Russian Federation.
"In whole Uzbekistan ranks 34th among Russia's export partners and 20th - in terms of non-raw and non-energy exports. Year to date Russian exports to Uzbekistan grew by 20%. Uzbekistan's foreign trade turnover will keep growing, and Russian companies can not and should not stay away from this process," he underscored.