03/13/2019 | Press release | Distributed by Public on 03/12/2019 23:38
The Japan Bank for International Cooperation (JBIC, Governor: Tadashi Maeda) signed on March 12 an export credit line agreement totaling up to JPY4,727 million yen （JBIC portion） with the National Bank for Foreign Economic Activity of the Republic of Uzbekistan (NBU). The loan is co-financed with Sumitomo Mitsui Banking Corporation bringing the total co-financing amount to approximately JPY7,879 million. The co-financed portion will be covered by insurance from Nippon Export and Investment Insurance (NEXI).
Uzbekistan is building a domestic backbone telecommunication network system. This credit line is intended to provide funds, through NBU, to Uzbektelecom JSC, a state-operated telecommunications company under the Ministry for Development of Information Technologies and Communications, for the purchase of a complete backbone telecommunication network system manufactured by NEC Corporation etc. from Toyota Tsusho Corporation.
The government of Uzbekistan has been promoting high-speed, high-capacity telecommunications by updating the backbone telecommunication network system, responding to the progress of IT technology and the growing popularity of smartphones. Through offering support by financing the export of high quality telecommunications equipment from Japan, this credit line will contribute to the capacity upgrade of Uzbekistan's backbone telecommunication network system and also to maintaining and increasing the international competitiveness of Japanese companies.
As Japan's policy-based financial institution, JBIC will continue to support overseas business deployment of Japanese companies, by drawing on its various financial facilities and schemes for structuring projects, and performing its risk-assuming function.