Tashkent, Uzbekistan (UzDaily.com) — The National Bank for Foreign Economic Activity of the Republic of Uzbekistan and German bank AKA Bank have signed an agreement for a €100 million credit line.

This agreement is aimed at supporting and developing business in Uzbekistan in collaboration with Germany and is focused on jointly supporting small and medium-sized enterprises (SMEs) in sectors such as textiles, tourism, services, mining, metallurgy, and alternative energy.

The credit line will contribute to job creation, support economic growth, and implement the Technology Partnership and Industrial Cooperation Program for 2024-2026, which was adopted by the leaders of Uzbekistan and Germany. This program is designed to advance Uzbekistan’s national economy and improve its investment and innovation climate.

The agreement will also open new opportunities for strengthening trade and economic ties between Uzbekistan and Europe, fostering further collaboration and development.