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7 Nov 2018

JSCB ASIA ALLIANCE BANK signed the first individual loan agreement in Uzbekistan with the German banking consortium AKA Ausfuhrkredit-Gesellschaft mbH to finance technological equipment, covered by not only the national export agency (ECA) Euler HERMES, but also other European ECAs. In August 2018, a Basic Loan Agreement was signed between banks for the development of trade and economic relations of Uzbekistan with European countries. Within the framework of this loan agreement, AKA Bank provided a credit line to JSCB ASIA ALLIANCE BANK to finance investment projects, including SMEs, covering the import of goods and services from the European Union countries.

The maximum amount of financing - up to 85% of the contract value and 100% premium of export credit agencies.  Loan term - up to 5 years.

Financing with the participation of AKA Bank will allow the bank's customers to modernize the basic production assets, as well as provide them access to obtaining high-tech equipment. This will help to improve the quality of finished products and to expand its range, reduce costs and find new markets.

It should be noted that this is not the first agreement of JSCB ASIA ALLIANCE BANK under the guarantees of the Export Credit Agency. During the last two years, the bank has successfully realized credit lines of such large German banks as Commerzbank and LBBW, under the ECA Euler HERMES cover.

AKA Bank (AKA Ausfuhrkredit-Gesellschaft mbH) was established in 1952 and is the largest consortium of 17 German banks.  AKA Bank provides financing transactions on a syndicated basis with exporters from the European Union and manufacturers of machinery and equipment with the support of the national export agencies of these European countries.


Author: не указано / Source: Press Centre JSCB «ASIA ALLIANCE BANK» / Views: 774

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