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EXIMBANK of Russia and VEB.RF will finance the supply of municipal equipment to provide urban amenities in Tashkent

9 june 2021

EXIMBANK of Russia JSC and VEB.RF provided the first disbursement of about 677 million rubles to finance the supply of Russian municipal equipment to Uzbekistan.

Municipal equipment is supplied to Uzavtodor (UO RUK Uzyulbutlash under the Committee for Roads of the Republic of Uzbekistan), the Main Department of Improvement of the city of Tashkent, and other municipal institutions of Uzbekistan.

“We see great potential for the implementation of joint projects with VEB.RF and the National Bank of Uzbekistan related to the financing of the supply of Russian high-tech equipment to Uzbekistan. We hope that our partnership will expand the geography of supplies of Russian exporters and will contribute to the development of foreign economic and trade relations between Russian and Uzbek companies." Tatyana Sakharova, Deputy Chairman of the Management Board of EXIMBANK of Russia JSC

“VEB.RF and EXIMBANK of Russia have started to finance a pilot project in Uzbekistan in Russian rubles. This is an important step towards achieving the VEB.RF goal to use national currencies when implementing export projects,” Daniil Algulyan, Deputy Chairman of VEB.RF.

The agreement on financing the supply of Russian municipal and other special equipment to the Republic of Uzbekistan was reached within the framework of the Russian business mission to the Republic of Uzbekistan held in September 2020. The agreement was concluded between the management of VEB.RF and the National Bank for Foreign Economic Affairs of the Republic of Uzbekistan JSC. In December 2020, VEB.RF and EXIMBANK of Russia JSC concluded loan agreements with the National Bank of Uzbekistan.

Russian equipment is supplied by Foreign Trade Company KAMAZ JSC, Mercator Kaluga LLC, Kominvest-AKMT JSC, Kurgandormash JSK. Most of the supplied equipment is assembled on a KAMAZ chassis using Russian attachments.

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