National Bank of Uzbekistan for Foreign Economic Activity (NBU) and Export-import bank of the Chinese People's Republic (Eximbank) signed individual loan agreements for financing of two projects, in Tashkent on 12 March.

The documents have been signed within the framework of visit to Uzbekistan of the Chinese Eximbank's delegation led by the Vice President Li Jun.

NBU and Eximbank of China signed individual loan agreements for financing of "Supply of equipment from China fro hydroelectric station 2 under Andijan reservoir" project with total loan sum worth US.03 million and "Supply of equipment from China for small hydroelectric station under Akhangaran reservoir" worth US.9 million, according to a press release of NBU.

The agreements envisage supply of Chinese technologies and services for the loan period of 15 years, including 5 years of grace period at 3% interest rate. The documents are continuation of active bilateral cooperation between the two financial institutions.

As reported earlier, NBU signed a number of individual loan agreements worth a total of US.07 million in 2006, which were directed on financing of investment projects of such industries as telecommunications and agriculture.

During the meeting in Tashkent, the sides discussed prospective projects for the total sum of loans worth US6.3 million to be financed in 2007. These are projects of fuel and energy complex, water supply systems, etc. Also the sides inked an amendment to General loan agreement on prolongation of access to the Chinese Eximbank's credit line for US0 million.