Tashkent, Uzbekistan (UzDaily.com) – On 16 April, Ambassador Extraordinary and Plenipotentiary of Japan to Uzbekistan Yoshinori Fujiyama and Deputy Minister of Finance of Uzbekistan Odilbek Isakov signed exchange notes for US$195 million in order to implement the development policy support program (interest rate US dollar LIBOR + 110 bp, maturity 25 years (of which grace period 7 years)).

In Uzbekistan, along with economic growth, the demand for electricity is increasing, which is why tasks such as managing the electricity sector, accurate statistics, financial management based on international accounting standards and strengthening the operation and maintenance of power plants are important.

In addition, overcoming the consequences of the new coronavirus infection as much as possible and promoting economic growth after the pandemic are tasks for which the entire international community, including Japan, must work together.

This dollar-denominated loan, aimed at financially supporting the government of Uzbekistan, aims to stimulate the country to address political issues in the electricity sector and contribute to socio-economic recovery, stability and sustainable development. Also, this loan is the first loan to Uzbekistan provided on the basis of US dollars.

Japan intends to continue to promote the early resolution of the epidemiological situation, as well as the restoration and stability of the international community and economy.