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NEWS

China to issue loan worth $2.7B to Uzbekistan

en.trend.az
30 June 2016

China will issue a loan worth $2.7 billion for Uzbekistan to implement joint projects, Uzbek President Islam Karimov said while addressing the Uzbek MPs and senators.

President Karimov and Chinese President Xi Jinping addressed the MPs during the Chinese president's state visit to Uzbekistan on June 21-22.

"We also signed the documents on the issuance of China’s loan worth $2.7 billion to Uzbekistan," President Karimov said.

President Karimov added that the loan will be used for the construction of the facilities with a total value of $6.2 billion.

Earlier, a joint statement on the all-round strategic partnership between Uzbekistan and China, as well as the documents, envisaging the development of technical and economic, investment, foreign cooperation, intensification of bilateral trade were signed during President Jinping’s visit.

China is one of the largest trade-economic and investment partners of Uzbekistan. According to the Uzbek side, the Uzbekistan-China trade turnover amounted to $4 billion as of 2015, while $1.4 billion in January-April 2016.

The total volume of the Chinese investments in the Uzbek economy has reached $6.5 billion.

Uzbekistan and China signed a program for the development of strategic partnership in 2014-2018, as well as a package of agreements worth about $6 billion during President Karimov’s visit to Beijing in August 2014.