Tashkent, Uzbekistan (UzDaily.com) -- Uzbekistan plans to place two tranches of sovereign international bonds (Eurobonds) totaling US$870 million, Gazeta.uz reported citing the Deputy Minister of Finance of Uzbekistan Odilbek Isakov.

It is noted that eurobonds in dollars and soums will be placed on the London Stock Exchange.

Odilbek Isakov said that the dollar tranche will be issued for a period of 10 years, and the soum tranche - for 3 or 5 years.

At the same time, the Deputy Minister of Finance noted that the amount of the tranche in soums will depend on demand. With good demand, the tranche volume in soums may increase, and in dollars, it may decrease. But the total tranches will be US$870 million.

Isakov stressed that proceeds from the issuance of international bonds in national currency will be used to finance the Sustainable Development Goals (SDGs). In particular, the funds will be used for the construction of schools, hospitals, water supply, promotion of gender equality policies, etc.