The Export-Import Bank of Korea (Korea Eximbank) has signed a $160mn loan agreement with Uzbekistan's finance ministry. It is expected that funds will be channeled through the Economic Development Cooperation Fund (EDCF) Program of the Korean government.
Some $120mn of the amount will be used to build Tashkent General Hospital, with the remaining part of loan to be spent on constructing a chemical R&D centre.
The loan agreement was signed on the occasion of a Korea-Uzbek high-level summit held via a video conference on the same day. The presidents of both countries have agreed to launch negotiations for a bilateral free trade agreement.
Bang Moon-kyu, president of Korea Eximbank, earlier said: “We will continue to expand cooperation in the health and medical sectors down the road. The two projects to be supported this time will serve as an important opportunity for cooperation between the two countries.”
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