Kuwait fund allocates Uzbekistan loan to develop healthcare

Business Materials 17 March 2016 12:17 (UTC +04:00)

Tashkent, Uzbekistan, March 17

By Demir Azizov- Trend:

Kuwait Fund for Arab Economic Development (KFAED) has provided a loan for $23.8 million to Uzbekistan to develop healthcare sector, press service of the Uzbek finance ministry told Trend March 17.

First Deputy Prime Minister and Minister of Finance of Uzbekistan Rustam Azimov and Deputy Director General of KFAED Hamad Al-Omar signed a loan agreement in Tashkent.

The loan was issued for a period of 26 years, including a grace period of 4 years. The loan bears an interest rate of 1.5 percent per annum.

The project consists of supplying and installation of necessary modern medical equipment for the Urological and Hemodialysis departments in the health institutions, including training of doctors and technical staff in operating and maintaining this equipment.

This loan represents the 8th loan extended by the Kuwait Fund to the Republic of Uzbekistan. Earlier, the Kuwait Fund issued seven loans to Uzbekistan for $130.56 million. The Kuwait Fund has also provided three technical assistances to Uzbekistan for $1.9 million.