Pursuant to the meeting between the representatives of Landesbank Baden-Württemberg (LBBW) headed by Mr Torsten Biesel and Ipak Yuli Joint–Stock Innovation Commercial Bank, which took place on November 15, 2017, the parties have agreed to sign a USD 5 million bilateral Framework Agreement for trade finance deals. This loan facility shall be used for financing offshore trade finance deals of manufacturers to purchase technological equipment and raw materials mostly from Western Europe.

Moreover, Landesbank Baden-Württemberg and Ipak Yuli Bank have agreed to foster cooperation in project financing of small businesses for tenor of 5 years and over.

Landesbank Baden-Württemberg is a top 5 German bank and renders services to large corporations and private clients. It is an active member of international capital market and engaged in commercial real estate, traditional, structured and off-balance sheet deals financing.

In addition, the parties have agreed to increase the joint banking product mix on the Uzbekistan market.