In April 2020, Silk Road Fund(“SRF”) and Joint-Stock Company “National Bank for Foreign Economic Activity of the Republic of Uzbekistan”(“NBU”) signed the Facility Agreement (the “Agreement”) .
According to the Agreement, SRF makes available to NBU an RMB term loan facility, the proceeds of which shall be on-lent by NBU to finance the construction and development of Samarkand Tourism Center Project.
Founded in 1991, NBU is the largest bank in Uzbekistan.
SRF is a medium-to-long term development and investment fund established under the framework of Belt and Road Initiative. Following a philosophy of openness, inclusiveness and mutual benefit, SRF operates its business based on market principles, international standards and professional excellence.