Japan may provide additional financial support to Uzbekistan

Finance Materials 21 April 2020 12:52 (UTC +04:00)
Japan may provide additional financial support to Uzbekistan

BAKU, Azerbaijan, Apr. 21

By Ilkin Seyfaddini – Trend:

Minister of Investment and Foreign Trade of Uzbekistan Sardor Umurzakov discussed possibilities for investment and trade and economic cooperation with Minister of Finance of Japan Taro Aso, Trend reports citing the Ministry of Investment and Foreign Trade of Uzbekistan.

During the videoconference, the sides discussed issues of possible implementation of various projects in agriculture, chemical and energy sectors, as well as mechanisms of cooperation to accelerate implementation of the already launched projects.

Following the talks, the parties agreed to consider prospects on providing grants from Japan for the needs of healthcare system and elimination of economic consequences of the pandemic in Uzbekistan.

In December 2019, Uzbekistan and Japan International Cooperation Agency (JICA) signed an agreement according to which JICA will provide Uzbekistan with a loan of 23 million Japanese yen (equivalent to $213.1 million).

The agreement provides for granting, through commercial banks, of soft loans worth $196.6 million for a period of up to 10 years (with a grace period of up to five years) to business entities operating in the country's horticulture sector at a rate of seven percent.


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