AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
The Interbank Credit Facility Agreement between Export-Import Bank (Eximbank) of Korea and the Uzbeki state-owned Asaka Bank was signed on 21 September 2017. The credit line has a maximum value of USD 65 million.
Through Asaka Bank, the credit line finances Korean business activities in Uzbekistan and local companies imports of Korea goods and services.
In this context, the Korean Eximbank's Chairman stated: "The agreement we signed will support Korean companies’ expansion into Uzbekistan and facilitate their business in the country by channelling funds to the subsidiaries of the Korean companies in Uzbekistan and local companies which import goods and services from Korea."
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.
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