BAKU, Azerbaijan, Sept. 10
By Klavdiya Romakayeva - Trend:
Three investment projects with the participation of the Japan Bank for International Cooperation and the Japanese Commercial Bank will be implemented in Uzbekistan, Trend reports with reference to Norma.uz information and legal portal.
According to the Memorandum between the Ministry of Information Technology Development in Uzbekistan and the Japan Bank for International Cooperation (JBIC), which was signed on December 16, 2019, the following investment projects are envisaged:
organization of information storage and processing center in 2020-2021;
expansion of the centers for switching international packages of Uzbektelecom JSC;
expansion of the backbone and multiservice data transmission network of Uzbektelecom JSC.
To finance projects, JBIC and Japan's Sumitomo Mitsui Banking Corporation (SMBC) provide loans in Japanese yen totaling $162.95 million in equivalent.
The sources of financing for three projects were approved in the amount of $193.73 million, which are:
JBIC loan in the amount of $138.51 million equivalent for a period of 10 years at an annual rate in JPY CIRR plus 0.5 percent margin of the National Bank for Foreign Economic Activity;
SMBC loan in the amount of $24.4 million equivalent for a period of six years at an annual rate of 6-month LIBOR plus 0.5 percent margin of the National Bank for Foreign Economic Activity;
own funds of Uzbektelecom JSC in the amount of $6.42 million;
share of Uzbekistan in the form of tax and customs benefits in the amount of $24.36 million.
Uzbektelecom JSC is determined as the 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.
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