AKA Bank Stresses New German Investment Pledges For Uzbek Projects (Exclusive Interview)

(MENAFN- Trend News Agency) BAKU, Azerbaijan, July 4. German AKA European Export & Trade bank is prepared to support German investors, as there are very interesting possibilities to receive support from Germany in the form of investment guarantees, Chief Executive Officer Strategy and Development and market-independent spokesman for the bank Marck Wengrzik told Trend in an exclusive interview.

“We are obviously prepared to support German investors in their plans to invest in Uzbekistan. Specifically, there are very interesting possibilities to receive support from the German government in the form of investment guarantees. This is an instrument that I personally find very interesting, but unfortunately, too many German companies are not aware of it,” he said.

According to him, the bank analyzes the export streams of capital goods from Germany and Europe to Uzbekistan in order to evaluate the possibility of financing these exports with Uzbekistan's financial institutions, government agencies, or companies as potential borrowers.

“However, we also support financial institutions and companies with their general financing requirements and examine possibilities for pre-financing raw material exports from Uzbekistan,” Marck Wengrzik noted.

He emphasized that the key areas of AKA Bank's transactions focus on the economic sectors of textile manufacturing, healthcare, power generation, and mining in Uzbekistan.

“On the one hand, our services support German and European exporters in their export activities by providing the appropriate financing to make their commercial offer more attractive. On the other hand, we provide long-term financing for Uzbekistan customers and thus, offer the necessary support for further investments,” Marck Wengrzik added.

Earlier in 2019, the National Bank of Uzbekistan and AKA Bank signed a loan agreement for 100 million euros to develop trade and economic ties between Uzbekistan and European countries.

The agreement, in particular, provides for the allocation of credit lines to the National Bank of Uzbekistan to finance investment projects, as well as projects of small business and private entrepreneurship involving the import of goods and services from Germany and other EU countries.


Trend News Agency

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