On June 25 in Beijing, the National Bank of Uzbekistan (NBU) and the Export-Import Bank of China (China Exim Bank) signed a loan agreement to attract financing of 700 million yuan (equivalent to $100 million).
The signing marks a new phase in long-term financial cooperation between the two banks, aimed at supporting investment projects, modernizing domestic enterprises, and further developing trade and economic ties between Uzbekistan and China.
NBU's selection as a strategic partner of China Exim Bank results from over 20 years of successful cooperation based on mutual trust, high business reputation, and effective joint project implementation. Over the years, more than 27 major investment and infrastructure projects have been implemented in strategic sectors including industry, energy, transport, and telecommunications. Additionally, over 170 small and medium-sized business projects have been financed.
The attracted financing will be a key element of NBU's strategy to diversify its international resource base and expand operations in Chinese yuan. Funds will be used to finance purchases of modern equipment and raw materials from China, support clients' investment projects, and develop bilateral trade.
NBU continues to strengthen its position as the leading yuan financing operator in Uzbekistan's banking system. The total volume of credit lines attracted in Chinese currency exceeds 11.5 billion yuan ($1.7 billion). The yuan-denominated loan portfolio amounts to about $1.2 billion, or 13% of the total loan portfolio.
The agreement was signed amid dynamic development of Uzbekistan-China trade, economic, and investment cooperation. In 2025, bilateral trade turnover increased by 34% to over $17 billion. Since the beginning of this year, trade has exceeded $6 billion, direct Chinese investments have surpassed $8 billion, and the number of enterprises with Chinese capital in Uzbekistan has approached 6,000.
The high level of trust from international financial institutions is based on NBU's solid financial results. In 2025, according to consolidated IFRS financial statements, the bank's assets exceeded $12.4 billion, the loan portfolio reached $9 billion, and total capital amounted to $1.8 billion.
International rating agencies Fitch Ratings and S&P Global Ratings maintain NBU's ratings at 'BB' with a positive outlook.
The signed agreement will also contribute to the implementation of the State Investment Program of Uzbekistan for 2026. According to Presidential Decree No. PP-49 of February 5, 2026, NBU is tasked with attracting credit lines from international financial institutions totaling $1.5 billion.
For reference: China Exim Bank, founded in 1994, is one of China's three policy banks, actively involved in financing international projects and playing a key role in the Belt and Road Initiative. As of 2025, its total assets stood at $897 billion, equity at $58 billion, and net profit at $528 million.
Source: podrobno.uz