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A new joint-stock commercial Uzagroeksportbank is to be commissioned in Uzbekistan within the next two months.
Experts say that the decision was made to support exporting companies, ensure effective and sustainable development of export capacity of fruit and vegetable products, further create favorable conditions for producers of agricultural products and the population, providing them with a wide range of banking and financial services.
The initial authorized capital of the bank will amount to €10 million. Residents and nonresidents of the Republic of Uzbekistan, including international financial institutions, may be the shareholders. The President entrusted the credit institution to bring a strategic foreign investor with at least 15% of shares in the authorized capital by January 1, 2020.
Key objectives of the new bank come to drawing funds of individuals and legal entities in funding priority investment projects on the development of production and exports of agro-industrial, primarily fruit and vegetable products and related infrastructure, integrated credit and settlement service for organizations of agro-industrial sector and their infrastructure.
Besides, the bank will draw foreign investors, international financial institutions and foreign banks in financing agro-industrial organizations, and develop direct cooperation with foreign partners.
The bank will also deal with the organization of integrated marketing analysis and formation of data bank about the state and prospects of development of international markets and export opportunities of domestic producers.
Another activity of the new structure implies active media coverage of export capacity of Uzbekistan through active cooperation with foreign banks, international organizations, diplomatic and trade missions, and through system-based incorporation in international advertising and trade information networks.
In addition to other services, the Bank will assist its customers in the development of strategies to promote agricultural products, especially fruits and vegetables, in international markets.
The Fund for Reconstruction and Development of Uzbekistan, Uzbekinvest, Uzbekoziqovqat-holding, Uzagrosugurta and Kafolat insurance companies will be major financial donors of Uzagroeksportbank.
