Korean Eximbank expands operations in Uzbekistan

In Seoul, S. Umurzakov, Deputy Prime Minister - Minister of Investment and Foreign Trade of the Republic of Uzbekistan, held talks with President of the Eximbank of Korea Bang Moon Kyu.

During the meeting, the sides praised the dynamics of bilateral relations and the dynamics of growth in the number of projects funded and implemented by the Economic Development and Cooperation Fund of the Republic of Korea EDCF. In particular, 4 projects worth about $ 180 million were completed in collaboration with Eximbank between 2014 and 2017, while 7 projects totaling $ 660 million were undertaken throughout 2018 and 2020. Health, education, and infrastructure development are top priorities for collaboration with the Bank.

The Uzbek side expressed gratitude to the EDCF for its decision to enhance preferential funding to $ 1 billion to fund new investment projects in Uzbekistan. The partnership program for 2021-2023 is expected to cover 13 projects totaling $ 1.2 billion. During the meeting, the parties canvassed the concerns of faster project implementation and emphasized the development of cooperation.

Following the meetings, loan agreements for the projects "Equipping medical facilities in the Republic of Uzbekistan with medical equipment" worth $ 88.8 million and "Construction of Oncology Clinic" worth $ 150 million were registered to sign.