During an official visit to Vienna, Austria, a Trustbank delegation led by Chairman of the Management Board S. Normuhamedov signed a credit agreement with Raiffeisen Bank International AG. Under the agreement, Trustbank will attract foreign resources totalling USD 11 million under the insurance coverage of Oesterreichische Kontrollbank (OeKB), Austria’s official export credit agency. The agreement is aimed at supporting the foreign trade activities of the Bank’s clients.
Notably, Trustbank became the first financial institution in Uzbekistan to successfully implement this medium-term financing product, developed with the support of Austria’s export credit agency OeKB. The new agreement marks the opening of the second credit line in this area. The funds raised will be channelled towards supporting domestic small and medium-sized businesses.
The successful launch of the second line is a clear testament to the high level of confidence that leading European partners place in Trustbank. The strategic partnership between Trustbank and Raiffeisen Bank International AG was established back in 2008, and over the years the two institutions have built a strong and enduring relationship across settlement, treasury and documentary operations.
For reference: Raiffeisen Bank International AG is the leading corporate and investment bank in Austria and across Central and Eastern Europe, with an extensive network of more than 2,200 branches throughout the region.
Oesterreichische Kontrollbank (OeKB) is Austria’s official export credit agency, founded in 1946. It is a state-backed institution providing support for the country’s export and investment financing.
