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Finance 11/12/2013 FRDU to issue US$935.6m to implement investment projects
FRDU to issue US$935.6m to implement investment projects
Tashkent, Uzbekistan (UzDaily.com) -- Fund for Reconstruction and Development (FRDU) will issue US$935.6 million to implementation of 37 projects, included to the state investment programme for 2014.

In particular, the FRDU will issue resources to implementation of the projects in such spheres as energy, oil and gas, chemistry, transport, metallurgy and others.

Total cost of these projects makes up US$19.976 billion and the FRDU will issue about US$4.452 billion to implement these projects, of which US$857.1 million will be used in 2014.

Within these projects, it is planned to use investments for US$2.328 billion due to all resources of financing. At the same time, the project participants will issue US$311.2 million of own resources and attract US$886.62 million of foreign loans and investments, as well as US$273.38 million from other sources.

Largest volume of loans of the Fund in 2014 will be used in fuel and energy sector (US$413.1 million), transport (US$202.7 million), metallurgy industry (US$119.6 million) and chemistry industry (US$55.5 million).

Fund for Reconstruction and Development of Uzbekistan was created in May 2006 in line with the presidential resolution “On measures on organization activity of the Fund for Reconstruction and Development of Uzbekistan”. The fund was founded for financing and co-financing important investment projects, included into the state investment programme. The charter capital of the FRDU makes up US$15 billion.

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