Uzbek TV
May 16

zbek President Islam Karimov received the governor of the Japan Bank for International Cooperation [JBIC], Kyosuke Shinozawa, at the Oqsaroy presidential residence on Thursday.

Welcoming the visitor to Uzbekistan, President Islam Karimov thanked him for paying the visit. He said that the visit would leave its mark on the history of increasingly developing relations between the two countries. He said that JBIC's credits to Uzbekistan accounted for a large proportion, that is almost 95 per cent, of overall Japanese investment in Uzbekistan.

During the visit of Kyosuke Shinozawa, an exchange note and an agreement on receiving a Japanese preferential credit for the modernization of the Tashkent heating energy station were signed at the Cabinet of Ministers between the Uzbek government and the Japan Bank for International Cooperation [JBIC].

JBIC has allocated a preferential credit worth 24,955m [about 196m dollars] Japanese yen 24,344m yen of which is allocated with 1.8 per cent annual interest for 30 years. The money will be spent on buying equipment, materials and conducting construction work at the station. The rest of the credit, 611m yen, is allocated for 40 years with 0.75 annual interest. This money has been allocated for paying consultation services on the project.

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