JP Morgan Chase & Co has agreed to accelerate the allocation of trade financing to Uzbekneftegaz projects. The deal was reached during negotiations held with Uzbekneftegaz management in Tashkent on June1.
The parties discussed the development of cooperation and the expansion of funding for joint initiatives. Project results in the transformation of the enterprise, gas production and other areas were presented.
In addition, the US investmet bank provided information on credit risks and on attracting funds for initiatives from export credit agencies. Hedging and risk reduction in financial assets were other matters discussed at the meeting.
JP Morgan Chase first agreed to finance a project in Uzbekistan in 2019, signing an agreement on the allocation of a €36.4mn credit line for the construction of a float glass plant in the Fergana region.
Don’t just follow the news—understand it.
The IntelliNews PRO service includes access to reports, exclusive market data, and more news that decision-makers care about. Stay ahead of the market with IntelliNews PRO.
Sign Up NowRelated Articles
Iran pushes farm-trade pivot to EEU as US blockade squeezes Gulf ports
The Islamic Republic of Iran wants to widen agricultural trade and joint investment with Eurasian Economic Union (EEU) states, a deputy agriculture minister told the bloc's farm-policy council ... more
Eurasian Development Bank receives first-time Ag credit rating from CCXAP
The Eurasian Development Bank (EDB) has received a first-time long-term credit rating of 'Ag' from Hong Kong-based China Chengxin Credit Ratings Company (CCXAP), with a stable ... more
Uzbekistan's Mirziyoyev heads to Minsk as Lukashenko widens his diplomatic circle
Shavkat Mirziyoyev, Uzbekistan's president, began a two-day official visit to Belarus on July 7 at the invitation of Alexander Lukashenko, in the latest sign of Minsk's push to broaden its ... more