EBRD provides Uzbekistan with $150M loan
Baku, Azerbaijan, August 14
By Fakhri Vakilov - Trend:
Ministry of Public Services of Uzbekistan has announced that rehabilitation of the heat supply system of Tashkent will cost $150 million of borrowed funds from the European Bank for Reconstruction and Development (EBRD), Trend reports citing the ministry.
On October 8, 2018, loan agreements were signed between the EBRD and Uzbekistan on the provision of loans in the amount of $100 and $50 million for the implementation of the projects “Improving the efficiency of the heat supply system in Tashkent” and “Rehabilitation of the heat supply system in Tashkent” with a maturity of 15 years, including a 4-year grace period.
In addition, Uzbekistan’s contribution to improving the efficiency of the heat supply system in Tashkent will amount to $29.93 million, including in the form of providing tax and customs benefits in the equivalent of $19.29 million and $10.64 million from Toshissikkuvvati State Unitary Enterprise, said the message.
The message said that Uzbekistan will invest some $10.96 million in the rehabilitation of the heat supply system of the capital, including $5.46 million in the form of tax and customs benefits and $5.50 million of own funds of Toshkent Issiklik Markazi State Unitary Enterprise. The project implementation period is 4 years (2019 - 2022).
As previously reported with reference to the message of the Ministry of Finance, in late July an agreement was signed between the administration of Tashkent and the representative office of the Asian Development Bank in Uzbekistan on the provision of consulting services for the transfer of heating systems of the city of Tashkent to long-term leases on the terms of a public-private partnership.
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