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TASHKENT, Uzbekistan, November 5. Uzbekistan’s
Business Development Bank and French Development Agency (AFD) have
signed a loan agreement for 30 million euros, Trend reports.
In accordance with the document, Uzbek Business Development Bank
and AFD will bolster cooperation in the development of renewable
energy sources, energy efficiency and women’s entrepreneurship.
The parties will also cooperate in the training of specialists
of the Business Development Bank.
Meanwhile, extensive cooperation between AFD and Uzbekistan was
laid during the official visit of President Shavkat Mirziyoyev to
Paris in November 2022. Within the framework of this visit, the
Government of Uzbekistan and the French Development Agency signed a
program of strategic cooperation until 2025.
According to the program, it is planned to implement joint
projects in agriculture, energy, green economy, urban planning,
water supply, banking and finance and transport.
Earlier this year, Uzbekistan has established a Business
Development Bank to provide further support for local small
businesses.
Business Development Bank provides loans for up to 7 years for
small business projects. For business entities with a positive
credit and tax history, the requirement for collateral is reduced
by 50 percent.
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