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NEWS

FRDU to acquire shares of Agrobank for US$30 million

www.uzdaily.com
19 June 2017

Fund for Reconstruction and Development of Uzbekistan (FRDU) will acquire shares of the joint-stock commercial bank Agrobank for US$30 million in 2017.

The Government of Uzbekistan adopted a resolution “On measures to expand production and introduction of biogas plants in the republic for the period 2017-2019”.

According to the resolution, the FRDU will acquire shares of Agrobank worth US$30 million.

The authorized capital of the bank is increased to finance investment projects for organization of production and service maintenance of biogas plants.

The resolution noted that Uzbekneftegaz, Agrobank and Poly International Holding signed a memorandum on cooperation to organize a joint production of modern biogas plants worth US$10 million.