BAKU, Azerbaijan, Jan.4
By Natavan Rzayeva - Trend:
Uzbekistan intends to attract a credit line of the Asian Infrastructure Investment Bank (AIIB) in the amount of $200 million to support business entities during the coronavirus pandemic, Trend reports referring to the Uzbek Media Outlets.
The Ministry of Investment and Foreign Trade, the Ministry of Finance and the National Bank for Foreign Economic Activity of Uzbekistan have reached a preliminary agreement with the AIIB on the allocation of the funds.
The credit line is expected to be provided in several tranches. Each tranche will be provided for a period of 5 years at a rate of 6 months. The grace period for the credit line is two years.
The loan funds will be used to support and rehabilitate enterprises affected by the coronavirus pandemic, provide them with working capital and increase production capacity, including financing projects in manufacturing, agriculture, wholesale and retail trade, public catering and transport.
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