Official Tashkent allocates $255 million for China-Kyrgyzstan-Uzbekistan railway project
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11 July 4279
The Recovery and Development Fund has provided a $255 million loan to "Uzbekistan Railways" to cover Uzbekistan's contribution to the "China-Kyrgyzstan-Uzbekistan" railway project. This decision is outlined in the President's decree.
Of the total amount, $14 million is expected to be allocated by the end of this year. The loans will carry an annual interest rate of 5 percent over 15 years, including a 7-year grace period. Under the agreement signed on June 6, Uzbekistan and Kyrgyzstan will each hold 24.5 percent of the project's shares, while China will hold 51 percent. The project's total authorized capital is $1.04 billion.
It is worth noting that earlier, Japarov ratified the agreement for the "China-Kyrgyzstan-Uzbekistan" railway.
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