The Export-Import Bank of China said on Friday it will offer 397 million U.S. dollars in export buyer's credit for 10 projects in Uzbekistan covering infrastructure and city construction.

According to the deals signed on Thursday between the Chinese state-owned policy bank and three Uzbekistan banks, five of the projects will be offered 197 million U.S. dollars in the credit, and they are part of the projects for which the Chinese government has promised a total of 900 million U.S. dollars in preferential buyer's credit to some member countries of the Shanghai Cooperation Organization.

The three Uzbekistan banks are the National Bank for Foreign Economic Activity of the Republic of Uzbekistan, the Industrial Bank of Uzbekistan, and the Bank of IPOTAKA, the Export-Import Bank of China said in a statement.

The remaining 200 million U.S. dollars are part of the 300 million U.S. dollars preferential export buyer's credit committed by the Chinese government to its counterpart of Uzbekistan.

The Chinese bank said the signing of the deals will help facilitate economic and trade exchanges between the two countries, and help deepen friendly bilateral ties.

Established in 1994 and solely owned by the Chinese central government, the Export-Import Bank of China (China Eximbank) is a state policy bank under the direct leadership of the State Council, the Chinese cabinet.

Source: Xinhua