Uzbek “Ipoteka Bank”, Russian “Gazprombank” signed an agreement worth $ 30 million 

On December 25, the Uzbek JSCIB “Ipoteka-Bank” and the Russian JSC “Gazprombank” signed a framed agreement on the joint implementation of investment projects in key sectors of the country’s economy. The agreement envisages collaboration of parties on a wide range of issues, including co-financing investment projects in mining, chemical and metallurgical industries, agricultural sector, textile industry and construction. At present, the amount of attracted investments is 20 billion rubles (about $30 million). 
 
The main objectives of signing this agreement are to promote development of the metallurgical and mining industries, introduction of new technologies, progressive ways and methods of organizing production, creation of systematic and long-term incentives to improve the competitiveness of the above-mentioned sectors of the economy in the international market. 
 
Also, the parties expressed interest in joint promotion and financing of projects covering transport, medical, housing and social infrastructure. 
 
Within the framework of cooperation, the parties are considering the possibility of joint participation in the further development of operations for syndicated financing of projects and programs providing mutual interest. 
 
The cooperation of “Ipoteka-Bank” with the JSC “Gazprombank” of Russia is not limited to attracting credit resources, but also involves the exchange of experience between the parties. This will allow studying and putting into practice in the system of “Ipoteka-Bank” the experience of Russian financial institutions in trade finance issues, including pre-export and post-import financing of trade operations, provision of guarantees, reimbursement obligations and other forms of trade financing.