At the ninth meeting of the German-Uzbek Business Council, held on June 20, 2025 in Dusseldorf, two key agreements were signed between JSC "National Bank for Foreign Economic Affairs of the Republic of Uzbekistan" (National Bank) and leading German financial institutions-Commerzbank AG and AKA Bank. The total amount of attracted credit lines amounted to US $ 200 million.
The meeting of the Council brought together about 100 representatives of the largest companies and financial organizations of the two countries. During the meeting, the participants discussed prospects for expanding investment cooperation, developing transport and logistics infrastructure, digitalization, deepening raw material processing, supporting the agro-industrial complex, as well as developing "green" energy and partnership mechanisms in the field of labor migration.
The signed agreements will open up new opportunities for the National Bank to finance investment projects formed within the framework of the Business Council. It is planned to attract long-term capital to support projects in strategically important sectors, such as the textile industry, mining, metallurgy, tourism, transport, infrastructure and alternative energy. Part of the funds will be allocated for the development of small and medium-sized businesses and the creation of new jobs.
The agreement with Commerzbank AG provides for the organization of financing at the expense of investors on the international capital market. This step is aimed at developing sustainable and transparent tools for attracting long-term resources, diversifying sources of external financing and increasing the investment attractiveness of Uzbekistan in global markets. AKA Bank, which specializes in trade and export financing, will support the supply of European goods and services to Uzbekistan.
The agreements reached correspond to the goals of the State Investment Program of Uzbekistan for 2025, which involves attracting $ 6 billion in external financing, of which $ 1.2 billion is assigned to the National Bank. The agreements concluded have become an important stage in the implementation of this task and creating a basis for sustainable economic growth in the country.
Commerzbank AG is one of the largest banks in Germany with assets of 555 billion euros, capital of 36 billion euros and net profit of 3 billion euros. AKA Bank is a consortium of leading European banks specializing in supporting international trade and export operations, with assets of approximately 4 billion euros and net profit of 13 million euros. Both institutes have considerable experience in financing major international projects.
