IBEC delegation visited Uzbekistan

A delegation of the International Bank for Economic Co-operation visited the Republic of Uzbekistan. Representatives of the Bank took part in the II International Financial and Banking Forum of the CIS Member States and held a series of business consultations with Uzbek partners.

The International Financial and Banking Forum of the CIS Member States has become an interesting and effective platform for business communication. This year, the event was attended by over 500 delegates from 21 countries, representing state and commercial banks, investment companies and funds, relevant ministries and organizations from the CIS countries, the European Union, and Southeast Asia. Within the framework of the Forum, representatives of IBEC presented the Bank's capabilities to support international trade, implement investment projects, and promote interregional business ties.

In recent years, Uzbekistan has become an important partner of IBEC among the countries that are not members of the Bank. IBEC is actively developing cooperation with Uzbek financial institutions, supporting trade operations between residents of the Republic of Uzbekistan and counterparties from member countries of the Bank. Within the framework of the visit, business meetings were held, in particular with JSCB "Asaka", Uzpromstroybank, JSCB "Agrobank", Trustbank, JSCB "InFinBank".

Currently, IBEC has set limits for 9 financial institutions of Uzbekistan for a total amount of about EUR 80 million. Uzbek banks use the full range of IBEC instruments in terms of trade (targeted trade loans, confirmation of letters of credit, issuance of guarantees, interbank reimbursement transactions) and syndicated financing.

Within the framework of the visit, IBEC representatives had a meeting with His Excellency Mr. Ján Bóry – Ambassador Extraordinary and Plenipotentiary of the Slovak Republic to Uzbekistan, Tajikistan and Turkmenistan. In the context of the IBEC partnership with the Council of Slovak Exporters, the parties discussed prospects for the IBEC participation in the development of Slovak-Uzbek trade relations. The parties identified the following industries as a priority: medicine, pharmaceuticals and the production of equipment aimed at combating the COVID-19 pandemic, water treatment and safety of hydro-facilities, ecology, renewable energy sources, innovative technologies, agriculture and IT. IBEC stated its readiness to actively participate in supporting export-import operations and in providing financing for joint initiatives of business circles of the Slovak Republic and Uzbekistan.


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