Japanese banks to take part in implementation of investment projects in Uzbekistan
The corresponding resolution was adopted on September 9 by the Cabinet of Ministers of Uzbekistan.
According to the Memorandum between the Ministry for Development of Information Technologies of Uzbekistan and Japan Bank for International Cooperation (JBIC), signed on December 16, 2019, it is planned to implement three projects on organization in 2020-2021 of the Data Center, the expansion of centers of commutation of international packages of JSC Uzbektelecom, expansion of the mainline and multiservice data transmission network of JSC Uzbektelecom.
JBIC and Japan’s Sumitomo Mitsui Banking Corporation (SMBC) provide loans totaling $163 million to finance projects.
The document approved the sources of financing for three projects worth $193.73 million.
JSC Uzbektelecom is determined as a responsible body for the targeted and effective use of loans from JBIC and SMBC, as well as a source for the return of received loans, including mandatory commission, interest and other expenses.