- Region: Asia
- Machinery and Equipment
- Export Loans
January 28, 2015
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The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Watanabe) signed today an export credit line agreement totaling up to JPY4,463 million (JBIC portion) with the National Bank for Foreign Economic Activity of the Republic of Uzbekistan (NBU), a state-owned bank in the Republic of Uzbekistan (Uzbekistan), in the presence of the country's First Deputy Prime Minister and Minister of Finance, H.E. Rustam Azimov who is on his visit to Japan to attend the "12th Japan-Uzbekistan Joint Economic Conference" held in Tokyo. The loan is cofinanced with Sumitomo Mitsui Banking Corporation, with Nippon Export and Investment Insurance (NEXI) providing insurance for the cofinanced portion. The overall cofinancing amount reaches about JPY7,438 million.
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This loan will provide funds through NBU for the State Committee for Communication, Informatization and Telecommunication Technologies of the Republic of Uzbekistan, which is charged with the country's information and telecommunication policy, in order to purchase a set of facilities related to the terrestrial digital broadcast network from OGAWA SEIKI CO., LTD. in developing terrestrial digital broadcast networks in such major cities as Tashkent, Samarkand and Bukhara.
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The Government of Uzbekistan is pushing forward the policy of shifting domestic broadcasting to terrestrial digital broadcasting by 2017. Thus this project will contribute to not only developing a high-quality terrestrial digital broadcast network in Uzbekistan through financial support for exporting related equipment from Japan but also to maintaining and strengthening the international competitiveness of Japanese companies.
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As Japan's policy-based financial institution, JBIC will continue to support the export of broadcast-related equipment by Japanese companies by drawing on its various financial facilities and schemes for structuring projects, and performing its risk-assuming function.