Uzbekistan will get a new bank. It will be called UzAgroEksportBank and is established pursuant to the Presidential Order of 24 January. The objectives of the bank is “to create favorable conditions for producers of agricultural products and individuals, financial support to export companies and building the capacity for exports of fruits and vegetables.
The initial authorized capital of 10 million euros will be raised from Reconstruction and Development Fund of Uzbekistan (7.5 million euros, 75%), UzbekInvest (1 million euros, 10%), UzbekOziqOvqatHolding, UzAgroSugurta and Kafolat SK (500 thousand euros, or 5%).
By 2020, UzAgroEksportBank is expected to draw foreign investor to the authorized capital with a share of at least 15%.
The new bank and its branches during five years will be exempted from all types of taxes and mandatory contributions to the state, and will be able use these funds for its resource and logistical base.