15:49 GMT +322 April 2018
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    TASHKENT, February 3 (RIA Novosti correspondent Valery Niyazmatov) - Uzbekistan and Germany signed an agreement on financial cooperation on Monday in Tashkent, the Uzbek Agency for Foreign Economic Ties reported Tuesday.

    The document envisages the disbursement of 20 million euros in the form of credits on favorable terms and a grant to Uzbekistan. The funds are to be divided between four projects.

    In particular, a 9 million euro credit will fund the electrification of a section of the Tashkent-Angren railroad.

    A 6 million euro credit is intended for the development of small and medium-size businesses.

    Apart from that, a 4 million euro loan has been earmarked for the reconstruction of a cargo terminal at the Tashkent international airport. A 1 million euro grant is intended for the replenishment of a fund for R&D and specialists.

    Financial cooperation between Uzbekistan and Germany for more than a decade has resulted in the KfB bank loaning, on favorable terms, 169.73 million euros to Uzbekistan. The disbursed money financed projects in small and medium business, the development of transport infrastructure, communications, the food industry, agricultural machine building, social sphere and health services.

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