China Eximbank to finance Uzbekistan’s IT and telecom projects with $500M loan

On June 21, Uzbekistan’s Minister of Investment, Industry, and Trade, Laziz Kudratov, met with Chen Huaiyu, Chairman of the Export-Import Bank of China, according to the ministry’s press service.

During the meeting, both sides discussed the implementation of current agreements and explored prospects for collaboration on new initiatives. These include projects in hydropower infrastructure, sustainable development in agriculture, and modernization of the country’s transport network.

As a result of the meeting, a $500 million loan agreement was signed to support projects in the telecommunications sector. Laziz Kudratov expressed confidence that Eximbank’s support for IT-related projects would yield positive outcomes.

It is worth noting that since 2002, Uzbekistan and China Eximbank have jointly implemented 51 projects totaling $3.2 billion across a wide range of sectors – including modern infrastructure construction, green energy development, transportation, agriculture, water management, education, and healthcare.

Currently, two major projects worth $1.9 billion are underway, and discussions are ongoing for an additional 13 projects totaling $2.2 billion.