EBRD to allocate Uzbekistan loan of $60 M
Baku, Azerbaijan, May 13
By Fakhri Vakilov – Trend:
The European Bank for Reconstruction and Development (EBRD) will finance the modernization of the water supply and sewage systems of the Namangan and Khorezm regions of Uzbekistan, Trend reports via Uzbek media.
The EBRD and Uzbekistan signed a loan agreement on October 8, 2018 to provide a loan in the amount of $ 60 million for a project to modernize the water supply and sewage system in Namangan and Khorezm regions with a maturity of 15 years, including a 4-year grace period.
The total cost of the project is $74.61 million, where Uzbekistan’s contribution to the project will amount to $ 14.61 million equivalent in the form of tax and customs benefits, interest payments on the EBRD loan and commission on the obligation in the investment period.
This project will be implemented in 2019-2022.
The executive body responsible for the implementation of the project, for the targeted and efficient use of EBRD loan funds, is the Kommunkhizmat Agency under the Ministry of Housing and Communal Services of Uzbekistan.
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