China Eximbank provides USD $127.5 million loan for modernization of Mobiuz mobile operator
Commitment amount
$ 142396717.80439335
Adjusted commitment amount
$ 142396717.8
Constant 2021 USD
Summary
Funding agency [Type]
Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]
Recipient
Uzbekistan
Sector
Communications (Code: 220)
Flow type
Loan
Level of public liability
Other public sector debt
Infrastructure
Yes
Category
Project lifecycle
Description
On April 7, 2020, Trend News Agency reported that Universal Mobile Systems (Mobiuz), a mobile phone operating company in Uzbekistan, will modernize and expand their systems with help from a USD $127.5 million loan from China Eximbank. Most of the money from this loan will be used for the purchasing of machinery and equipment. As a result of this project, 2,114 workplaces will be renovated or created in Uzbekistan. The loan period is 15 years, but more specific information about the loan is unspecified. It is expected that the project will be paid off in 98 months and the investment period is 45 months. The total value of the project is USD $238.5 million. While China Eximbank is providing USD $127.5 million, USD $111 million is provided through the company’s own funds.
Additional details
Number of official sources
0
Number of total sources
2
Details
Cofinanced
No
Direct receiving agencies [Type]
LLC Universal Mobile Systems [Joint Venture/Special Purpose Vehicle]
Loan Details
Maturity
15 years