Silk Road Fund Enters into Cooperation Arrangements with Uzbek Enterprise and Bank

In June 2018, the Silk Road Fund (the "Fund") inked a cooperation framework agreement with Uzbekneftegaz to support Uzbek oil and gas projects. The Fund's investment and financing may be denominated in USD and RMB. In addition, the Fund also signed an MOU for cooperation with National Bank of the Republic of Uzbekistan for Foreign Economic Activity to invite Chinese companies to participate in the construction of a cultural tourism complex in Samarkand, Uzbekistan's second largest city. The parties aim to help the city build landmark international cultural tourism attractions with Silk Road heritage.

The cooperation is expected to facilitate the development of Uzbekistan's oil and gas as well as cultural tourism industry, deepen the China-Uzbekistan bilateral ties in key areas, promote Uzbekistan's social and economic progress, and help the two countries achieve mutual benefit and win-win results under the framework of the Belt and Road Initiative.

Uzbekneftegaz, Uzbekistan's only operator of oil, gas and natural-gas condensate, engages in the exploration, extraction and production of oil and gas. National Bank of the Republic of Uzbekistan for Foreign Economic Activity is Uzbekistan's largest commercial bank. Its main purpose is to facilitate Uzbekistan's import and export business, attract foreign investment and provide international settlement and clearing service.

Editor: 曹家宁
Today’s Recommendations

China, Spain agree to advance ties during Xi's visit

China and Spain agreed on Wednesday to build on the 45th anniversary of the establishment of diplomatic ties to jointly promote the development of the relationship and deliver more benefit to the two peoples.【detailed】

Xi's Europe, LatAm trip to promote cooperation, multilateralism

The trip is expected to deepen comprehensive strategic partnership between China and the European Union (EU), consolidate China-LatAm comprehensive cooperative partnership and promote global economic governance.【detailed】