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Consortium of Japanese Banks to Finance the Development of Digital Broadcasting in Uzbekistan

Japan Bank of International Cooperation and Commercial Bank Sumitomo Mitsui Banking Corporation have granted a loan for the development of a network of terrestrial digital broadcasting worth of $ 62,59 million.

The National Bank for Foreign Economic Activity of Uzbekistan and the Japan Bank for International Cooperation in the consortium with the Commercial Bank Sumitomo Mitsui Banking Corporation signed a loan agreement for co-financing the project. The consortium will provide 85% of the necessary funds for its implementation for 12 years. The remaining 15% - $ 11,04 million will be covered at the expense of credit funds of JSC Aloqabank provided in the national currency for a term of 5 years, with an interest rate of 12% per annum.

The Japanese Company Ogawa Seiki Co. Ltd acted the supplier of the equipment. In September last year between Uzimpeksaloka Co. Ltd and the Japanese side was signed a contract to supply equipment for digital broadcasting of the State Unitary Enterprise ‘Center of Radio Communications, Broadcasting and Television’ totaling $ 73.63 million. Under the contract, all work must be completed in July, 2017.

Executive authority responsible for the proper use of credit and the implementation of the project is the Ministry for Development of Information Technology and Communications of Uzbekistan.

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