Overview

China Eximbank provides USD $127.5 million loan for modernization of Mobiuz mobile operator

Commitments (Constant USD, 2023)$131,546,062

Commitment Year•2020Country of Activity•UzbekistanDirect Recipient Country of Incorporation•UzbekistanSector•CommunicationsFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2020

End (actual): Apr 7, 2020

Last repayment: Dec 28, 2034

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Policy Banks

Export-Import Bank of China (China Eximbank)

Receiving agencies

Joint Venture/Special Purpose Vehicles

LLC Universal Mobile Systems

Loan desecription

China Eximbank provides USD $127.5 million loan for modernization of Mobiuz mobile operator

Interest type•UnknownMaturity•15 years

Narrative

Full Description

Project narrative

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.