TASHKENT, Uzbekistan, February 24. China Development Bank (CDB) will allocate $120 million for the purchase of large-capacity buses that will operate on compressed natural gas in Uzbekistan, Trend reports.
This is stated in resolution on measures to implement investment projects in the first quarter of 2024 adopted by the Government of Uzbekistan.
Furthermore, Uzbekistan's Nukus and regional centers will receive 1,000 new buses.
In addition, it is planned to attract $60 million to upgrade the transportation fleet of the Toshshakhartranskhizmat (passenger transport) enterprise. There are plans to purchase 200 electric buses and appropriate equipment for their charging.
Meanwhile, a project on purchase of electric buses and creation of necessary infrastructure will be implemented in Uzbekistan's Samarkand with the participation of the European Bank for Reconstruction and Development.
The EBRD will provide a $49 million loan for 18 years, including a grace period of three years. The remaining amount will be financed by the Uzbek authorities through VAT and customs privileges.
The total cost of the three-year project is $61.9 million.