Korea Eximbank Provides $84 Million Support for Establishment of Pharmacy University in Uzbekistan

Support for the Tashkent Pharmaceutical Cluster Construction Project

Bang Moon-kyu, President of the Export-Import Bank of Korea (right in the photo), signed a loan agreement on the 17th morning at the Yeouido headquarters of the bank with Shukhrat Vafaev, Deputy Minister of Investment and Trade of Uzbekistan (left in the photo), to provide 84 million USD of the Economic Development Cooperation Fund (EDCF) for the 'National University of Pharmacy Construction Project' in Uzbekistan.

[Asia Economy Reporter Kim Jin-ho] The Export-Import Bank of Korea (KEXIM) announced on the 17th that it has signed a concessional loan agreement to provide 84 million USD in Economic Development Cooperation Fund (EDCF) to the Ministry of Finance of Uzbekistan for the "National College of Pharmacy Construction Project."

On the same day, KEXIM President Bang Moon-kyu met with a delegation from the Uzbek government, including Deputy Minister of Investment and Trade Shukhrat Bapayev, who visited the Yeouido headquarters, and signed the concessional loan agreement.

Uzbekistan, one of the key countries in Korea's New Northern Policy, has so far received a total of 630 million USD in EDCF from KEXIM. Support for the health and medical sector accounts for approximately 394 million USD, or about 62% of the total.

With KEXIM’s provision of EDCF for the establishment of the National College of Pharmacy, the transfer of Korea’s pharmacy education curriculum and operational know-how, as well as the supply of advanced educational equipment, will be realized, laying the foundation for nurturing talented personnel in Uzbekistan’s pharmaceutical industry in the future.

In particular, the National College of Pharmacy Construction Project plays a pivotal role in the Uzbek government’s "Tashkent Pharmaceutical Cluster Development Project," which aims to develop the country’s pharmaceutical industry. The pharmaceutical cluster is a complex where pharmaceutical-related educational facilities, research institutes, administrative agencies, and production facilities are all located nearby.

KEXIM President Bang Moon-kyu said, “Uzbekistan is a key country in the New Northern Policy, and cooperation in the health and medical sectors has become even more important in the post-COVID-19 era. We expect that this ‘National College of Pharmacy Construction Project’ will play an important role in strengthening cooperation between the two countries.”

This content was produced with the assistance of AI translation services.