Chinese ICBC to grant a loan for the construction of UzPSB head office in Tashkent

Representatives of the JSC “Uzpromstroybank” and the Industrial and Commercial Bank of China (ICBC) held a meeting to discuss terms of the loan raised for construction of the head office of an Uzbek bank in the business center “Tashkent City”.

Following the talks, an exclusive agreement was signed between the head of the ICBC delegation and the chairman of the board of “Uzpromstroybank” to provide mandate for building an office.

Also, during the meeting, issues of cooperation between the banks of two countries were discussed as part of the implementation of investment projects aimed at expanding the production capacities of Uzbek enterprises.

In particular, the Chinese side was proposed projects on the production of high-quality rolled metal, expansion of the production capacity of the JSC “Kuvasoycement” and the construction of a cement plant “Yaypancement”.

The Chinese delegation expressed readiness to consider the possibility of providing the necessary credit funds, only if the Uzbek bank presents draft documents and detailed information about the suppliers of the necessary equipment. 

Industrial and Commercial Bank of China is the largest commercial bank in the PRC. It was founded in 1984 and transformed into a limited liability company in 2005.

In 2018, according to the rating of “Global 2000”, which is published annually by Forbes, for six years in a row, the bank has taken the lead among the largest public companies.