Ambassador of Japan to Uzbekistan, Hatori Takashi, and the First Deputy Minister of Economy and Finance of Uzbekistan, Ilhom Norkulov, have signed exchange notes for a credit of 37 billion yen (approximately $246.2 million) within the framework of the "Program for Sustainable Economic and Social Development Support," as reported by "Gazeta.uz" from the diplomatic mission's press service.
Subsequently, Ilhom Norkulov and the head of the JICA (Japan International Cooperation Agency) representative office in Uzbekistan, Bito Yoshibumi, signed the credit agreement for this project. The credit is extended for 30 years with a 10-year grace period, and the annual interest rate will be 1.8%.
The project's goal is to support the continuous implementation of economic reforms in Uzbekistan's transition to a market economy and promote social integration and stability by supporting vulnerable groups.
"It is expected that the project will contribute to the social-economic stability and sustainable development of the country," the statement said.
During the 9th meeting of foreign ministers in the "Central Asia + Japan" dialogue held in Tokyo in December 2022, Japan announced the establishment and development of cooperation to achieve sustainable development in a free and open Central Asia. Japan emphasized the new model, giving importance to "Investing in People" and "Quality of Growth." This project embodies the concept of "Quality of Growth."
CentralasianLIGHT.org
February 20, 2024