The European Bank for Reconstruction and Development (EBRD) will provide a loan of EUR 81.6 million to support five thermal power plants (TPP) in Uzbekistan.
The loan is provided within the project on “Vital Infrastructure Support Program: Support for the Electricity Industry”. The Cabinet of Ministers of Uzbekistan approved measures for the implementation of the project in the next two years.
The loan is issued for a period of seven years, including a grace period of 30 months, at a rate of 1% per annum plus a six-month Euribor rate and a commission of 0.5%.
The loan will be coordinated by the company Issiklik Electr Stationsalari JSC. The borrowers will be Tashkent TPP JSC, Navoi TPP JSC, Takhiatash TPP JSC, Syrdarya TPP JSC and Talimarjan TPP JSC. These enterprises are the executors of the project and are fully responsible for the efficient use of the EBRD loan.
The repayment of the debt allocated by the EBRD, including payments on interest, one-time commissions and other expenses, will be made at the expense of thermal power plants.
The Credit Agreement for the Vital Infrastructure Program to Support the Electricity Sector was signed on December 9, 2020. (AzerNews/Business World Magazine)
