National Bank of Uzbekistan for Foreign Economic Activity (NBU) and Export-Import Bank of Korea (EXIMBANK) signed a memorandum of cooperation on 11 May.

The memorandum envisages issue of export credit for US$10 million to NBU to finance bilateral export supplies.

NBU and EXIMBANK have been cooperating since 2000. Earlier, the bank inked two loan agreements for US$48.9 million to finance silk and car industry projects in Uzbekistan.

Export-Import Bank of Korea is governmental financial institute and among its tasks are assistance to develop national economy and strengthening economic cooperation with foreign countries.