Uzbekistan to receive $246 million loan from Japan

The loan will be used to develop Uzbekistan’s economy and support vulnerable groups of the population.

On February 19, First Deputy Minister of Economy and Finance of Uzbekistan Ilkhom Norkulov held an official meeting with Ambassador of Japan to the Republic Takashi Hattori. The documents on the exchange of loan notes in the amount of 37 billion yen (approximately $246.2 million), which will be used to implement the Programme to Support Sustainable Economic and Social Development, were signed during the talks, the press office of the Embassy of Japan in Uzbekistan reported.

Norkulov held a meeting with JICA Chief Representative in Uzbekistan Yoshibumi Bito and signed a loan agreement. It provides for a 30-year repayment period including a 10-year grace period and an annual interest rate of 1,8%.

The parties agreed that the loan will be used to bost economic reforms in Uzbekistan aimed at the transition to a market economy, promote economic stability and support vulnerable groups of the population.

21 02 2024, 08:49
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