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    Uzbekistan

    Santander eyes Uzbekistan market to finance projects of up to $500mn with export credit agencies support

    Santander eyes Uzbekistan market to finance projects of up to $500mn with export credit agencies support

    The Embassy of Uzbekistan in Madrid recently played host to a significant meeting between Uzbekistan officials and the regional manager of Santander, Spain's largest bank, David Plaza, the National Information Agency of Uzbekistan reported. The discussion revolved around the bank's interest in financing investment projects in the country.

    Photo: Embassy of Uzbekistan hosts crucial talks between officials and Santander's David Plaza
    Source: National Information Agency of Uzbekistan

    Santander, a banking giant and a leader in Europe with assets totaling €1.8 trillion as of 2023, has been an influential player in the global financial landscape. Plaza emphasized that Santander is not only one of the five largest banks in Europe but is also a world leader in terms of assets.

    During the meeting, Plaza highlighted Santander's remarkable performance over the past two years, specifically noting the bank's leadership in the number of transactions concluded in export-import operations within Europe. These credentials establish Santander as a formidable force in international finance, adding weight to the discussions of its potential entry into Uzbekistan.

    Photo: Santander's leadership in export-import operations positions it as a key player for Uzbekistan's banking services
    Source: Presidential Press Service

    The regional manager expressed the bank's interest in exploring opportunities in Uzbekistan's investment projects. Furthermore, Plaza conveyed Santander's readiness to allocate substantial loan funds amounting to $500mn under the support of ECA (export credit agencies). These funds are earmarked for financing promising investment projects in Uzbekistan, a gesture aimed at fostering economic development in the country.

    Santander, with its global presence spanning 25 countries and a banking history of 160 years, brings a wealth of international experience to the table. The bank's commitment to community development was also highlighted during the meeting. As part of Santander Group, the bank has invested in uplifting underserved communities and supporting higher education in the United States through its 5-year $11bn Inclusive Communities Plan initiated in 2017.

     

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    15.01.2024, 12:18   Comments (0)   1754
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