National Bank for Foreign Economic Activity of the Republic of Uzbekistan draws down on RMB 1.18 billion credit line with CDB to improve public transportation operations across Uzbekistan

Project narrative

On May 17, 2023, China Development Bank (CDB) and National Bank for Foreign Economic Activity of the Republic of Uzbekistan (NBU) signed an RMB 1,180,136,158 loan agreement for the acquisition of passenger, electric buses. The loan carries a 10-year maturity, a 1-year grace period, and an unknown interest rate. The proceeds of the loan are to be used by the borrower to finance the purchase of passenger buses and electric buses (captured in Record ID #104811). The project has two phases: the first phase is for the acquisition of 1,000 Chinese manufactured electric and natural gas buses (captured in Record ID #106730) and phase two is for improving public transportation operations in other cities in Uzbekistan (captured in Record ID #106741). According to CDB, the loan was fully disbursed in June 2023.