China to credit Uzbekistan US$397m
(Xinhua)
Updated: 2006-06-10 11:12
The Export-Import Bank of China said on Friday it will offer 397 million US
dollars in export buyer's credit for 10 projects in Uzbekistan covering
infrastructure and city construction.
According to the deals signed on Thursday between the Chinese state-owned
policy bank and three Uzbekistan banks, five of the projects will be offered 197
million U.S. dollars in the credit, and they are part of the projects for which
the Chinese government has promised a total of 900 million US dollars in
preferential buyer's credit to some member countries of the Shanghai Cooperation
Organization.
The three Uzbekistan banks are the National Bank for Foreign Economic
Activity of the Republic of Uzbekistan, the Industrial Bank of Uzbekistan, and
the Bank of IPOTAKA, the Export-Import Bank of China said in a statement.
The remaining 200 million U.S. dollars are part of the 300 million U.S.
dollars preferential export buyer's credit committed by the Chinese government
to its counterpart of Uzbekistan.
The Chinese bank said the signing of the deals will help facilitate economic
and trade exchanges between the two countries, and help deepen friendly
bilateral ties.
Established in 1994 and solely owned by the Chinese central government, the
Export-Import Bank of China (China Eximbank) is a state policy bank under the
direct leadership of the State Council, the Chinese cabinet.
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