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16/December/2021   Economic Diplomacy

Deputy Prime Minister met with the President of Korea Eximbank

TASHKENT, December 16. /“Dunyo” IA/. Deputy Prime Minister – Minister of Investments and Foreign Trade of Uzbekistan Sardor Umurzakov met with the Chairman and President of Korea Eximbank Bang Moon-kyu, in Seoul, reports “Dunyo” IA correspondent.


According to Uzbekistan MIFT, the parties noted the active nature of cooperation and the positive dynamics of growth in the number of projects implemented with the co-financing of the Economic Development Co-operation Fund of Korea EDCF.

During the dialogue, mechanisms of interaction were considered, allowing to speed up the process of preparation, study and approval of projects that are at the stage of elaboration to accelerate the development of the mutually beneficial partnership.

The Uzbek side expressed gratitude for the decision to increase the volume of concessional financing through EDCF for $1 billion to finance new investment projects in Uzbekistan. The cooperation program for 2021-2023 will include 13 projects worth $1.2 billion. The parties agreed to establish close cooperation on the accelerated promotion and practical implementation of these projects.

Further steps were also outlined to deepen cooperation with the newly created Economic Development Promotion Fund EDPF for the joint implementation of new projects in electrical engineering, biopharmaceuticals, metallurgy and the chemical industry.

Following the talks, the parties expressed their commitment to continuing systematic work to further develop the partnership in the designated areas. Loan agreements were signed on the project “Equipping medical facilities of the Republic of Uzbekistan” for $88.8 million and on the project “Construction of an oncological clinic” for $150 million.

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