Japanese Sumitomo Mitsui Financial Group (SMFG) is ready to grant $200 million to the National Bank for foreign economic activity of the Republic of Uzbekistan (NBU). According to the NBU press service, a proper agreement was recently signed.
The money will be allocated to finance investment projects: equipment supply from Japan and other countries where SMFG business is presented. Under the agreement, SMBC subsidiary Nikko will consult NBU on how to approach the international capital market.
At the moment, NBU has prepared a list of projects up to $157.9 million. As NBU experts say, implementation of these projects might raise Uzbekistani exports more than $80 million as well as create jobs for more than 3,300 people.
In early December 2019, the president of Uzbekistan signed a directive to transform NBU from a state unitary enterprise to a joint-stock company.