Uzbekistan’s National Bank for Foreign Economic Activity (UzNAB) and France’s Natixis Bank have signed a credit line agreement worth €200mn. The deal was finalized during the Uzbek-French business forum held in Paris on March 11.

The agreement is a key step in expanding financial cooperation between Uzbekistan and France. The funds will be used to support priority investment and infrastructure projects in Uzbekistan, including tourism, transport, housing, alternative energy, healthcare, and airport modernization. 

Additionally, small and medium-sized businesses will benefit from the financing, contributing to employment growth and increased incomes in local communities.

The credit line is provided under the insurance coverage of European export credit agencies and does not require a state guarantee from Uzbekistan. This aligns with Uzbekistan’s state investment program for 2025, under which UzNAB aims to secure a total of $1.2bn in credit lines from international financial institutions.

The signing of this agreement highlights the strengthening trade and economic ties between Uzbekistan and France. France remains one of Uzbekistan’s key partners in the European Union, with growing collaboration in various sectors.

Natixis is a leading French corporate and investment bank and a subsidiary of the BPCE group, the second-largest banking group in France. It operates in 30 countries worldwide.

The Uzbekistan-France partnership has grown substantially, with their joint project portfolio now exceeding €12bn. In 2024, bilateral trade surpassed €1bn for the first time, while the number of joint ventures has increased fourfold. Major French companies, including Orano, EDF, Total, SUEZ, Voltalia, and Veolia, have expanded their presence and operations in Uzbekistan.