China Eximbank provides buyer’s credit loan for Lot 1 & Lot 2 of 2025 Asian Youth Games Project

China Eximbank provides buyer’s credit loan for Lot 1 & Lot 2 of 2025 Asian Youth Games Project During the China-Central Asia Summit in Xi'an from May 18, 2023 to May 19, 2023, China Eximbank and the Government of Uzbekistan signed an RMB-denominated buyer’s credit loan agreement for the Lot 1 & Lot 2 of the 2025 Asian Youth Games Project.

The loan agreement signing ceremony was attended by Zhang Wencai, Vice President of the Export-Import Bank of China, and Laziz Kudratov, Minister of Investment, Industry and Trade of Uzbekistan.

However, it is known that Sinosure provided a credit insurance policy on September 26, 2023.

It is also known that the borrower is expected to use the loan proceeds to finance an RMB 2.084 billion ($289 million) commercial contract that Tashkent Municipal Government Unified Owner Service Engineering Company signed with China CAMC Engineering Co., Ltd. on December 30, 2022.

The purpose of the project is to build the main competition and service facilities for the 2025 Asian Youth Games in Uzbekistan, including a stadium, a swimming pool, a velodrome, a multi-purpose sports hall, dormitories, and a fighting hall as well as outdoor football, basketball, tennis, extreme sports and beach volleyball venues.

The Olympic City was originally expected to occupy an area of ​​about 100 hectares and includes 5 major sports venues and 15 outdoor stadiums.

These stadiums were expected to include an athletics and football stadium with 10,000 seats, 6 indoor and 7 outdoor sports facilities, a water sports palace, a cycling track, and complexes for martial arts and team sports. The project also involves the installation of a rooftop photovoltaic system with a total capacity of 7 megawatts.

All roofs of parking lots and sports facilities are to expected to be covered with solar panels (in order to facilitate the entry of new energy vehicles and meet the daily electricity needs of the entire sports complex). China CAMC Engineering Co., Ltd. is the EPC contractor responsible for project implementation.

China IPPR International Engineering Co., Ltd. is the contractor responsible for project design.

On November 9, 2022, a ceremony for the laying the first stone in the construction of the Olympic City facilities took place in Tashkent. President Shavkat Mirziyoyev attended the event.

The project’s originally scheduled commencement date is April 2023 and its originally scheduled completion date is July 2023. Upon completion, the Olympic City was expected be the largest sports complex in Central Asia.

It was also expected to host the 4th Asian Youth Games and the 5th Asian Youth Disability Games in 2025, where young people from 45 countries would compete in almost 20 sports.

However, in December 2024, Uzbekistan withdrew as host of the 4th Asian Youth Games due to Olympic City construction delays caused by post-pandemic constraints.