Natixis to allocate 15 million euro to Uzbekistan

Business Materials 25 January 2011 17:28

Uzbekistan, Tashkent, Jan. 25 / Trend D. Azizov /

The Uzbek Finance Ministry and the French bank Natixis have signed an agreement to allocate a loan worth 15 million euro for the project to restore the pumping stations in the Navoi region, the French Embassy in Uzbekistan said.

The credit will be granted within the trade and technical assistance through concessional loans to developing countries, the report said.

The funds will be used to purchase French goods and services for the rehabilitation of two pumping stations - Navoi and Uchkara.

The credit terms were not disclosed.

In 2005, the French government allocated two loans totaling 7.076 million euro to Uzbekistan for the two projects on water supply.

The credit was allocated for a period of 20 years, including a five-year grace period through the French Natexis Banque Populaires.

Bank Natixis was created through the merger of Natexis Banque Populaire (Banque Populaire group) and IXIS (Caisse d'Epargne group) in October 2006.