Japan to provide $230 million in soft loans to Uzbekistan

Japan to provide $230 million in soft loans to Uzbekistan

Japan will provide a soft loan of $229.6 million to support Uzbekistan's energy efficiency projects. The Japanese Embassy reported this. It is noted that on June 10 of this year, Deputy Prime Minister, Minister of Economy and Finance Jamshid Kuchkarov held a meeting with a delegation led by Japanese Ambassador Hirata Kenji. At the meeting, it was determined that the loan funds will be directed to the introduction of energy-saving technologies in government buildings, as well as in the industrial and commercial sectors. This will help reduce energy consumption and greenhouse gas emissions.

As part of the financing, it is planned to allocate 21.788 billion yen for government buildings and 14.969 billion yen for the industrial sector. The annual interest rate on the loan is 2.4% and the repayment period is 25 years, of which 7 years are considered a grace period. The parties assessed this cooperation as an important part of the strategic partnership in the direction of "green development and sustainability."