First Deputy Prime Minister and Minister of Finance of Uzbekistan Rustam Azimov and Deputy Director-General of KFAED Hamad Al-Omar signed a loan agreement in Tashkent.

The project aims to support the health sector and improve the diagnostic and therapeutic medical services, and to contribute to the development of performance and efficiency of health services, to provide better medical services, and to improve the health status of the population and reduce the mortality rate, which will have a positive impact on social and economic development indicators in Uzbekistan.

The project consists of supplying and installation of necessary modern medical equipment for the Urological and Hemodialysis departments in the health institutions, including training of doctors and technical staff in operating and maintaining these equipment, and also includes the institutional support and necessary consultancy services for preparation of the technical specifications of the required medical equipment and bidding documents and supervision of the Project implementation.

The loan was issued for a period of 26 years, including a grace period of 4 years. The loan bears an interest rate of 1.5% per annum, in addition to a rate of 0.5% per annum to meet administrative costs and other expenses incurred in the implementation of the loan agreement.

This loan represents the 8th Loan extended by the Kuwait Fund to the Republic of Uzbekistan. Earlier, the Kuwait Fund issued seven loans to Uzbekistan for US$130.56 million. The Kuwait Fund has also provided three technical assistances to Uzbekistan for US$1.9 million.