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China Eximbank provides $127.5 million loan for Telecommunication Equipment and Infrastructure Modernization Project
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | National Bank for Foreign Economic Activity of the Republic of Uzbekistan (NBU) |
| Country | Uzbekistan |
| Start Date | Aug 01, 2021 |
| End Date | Mar 27, 2030 |
| Duration | 3,160 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 92623 |
Grant Description
China Eximbank provides $127.5 million loan for Telecommunication Equipment and Infrastructure Modernization Project On August 29, 2019, during the Prime Minister of the Republic of Uzbekistan’s visit to Shenzen, an MOU was signed regarding a concessional loan from China Eximbank to LLC Universal Mobile Systems (UMS or МЧЖ) — a special purpose vehicle and subsidiary of the Uzbek state-owned company Uzbektelecom — for the Telecommunication Equipment and Infrastructure Modernization Project.
Then, in August 2021, China Eximbank and the National Bank for Foreign Economic Activity of the Republic of Uzbekistan signed a $127,500,000 loan agreement for the Telecommunication Equipment and Infrastructure Modernization Project.
The loan proceeds were on-lent from NBU to LLC Universal Mobile Systems.
The ultimate borrower was expected to use the proceeds of the loan to partially finance a commercial contract with Huawei Technologies Co. Ltd. A loan disbursement of $52,106,288 took place in 2021. Another loan disbursement of $12,043,891 took place in 2022. The purpose of the project is to enable UMS to modernize its telecommunications equipment and infrastructure.
Huawei Technologies Co. Ltd. is the contractor responsible for implementation.
Staff Comments
- The Uzbek project title is мобиль алоқа операторининг технологик ускуналарини модернизация қилиш ва алоқа тизимларини кенгайтириш инвестиция лойиҳаси.
- The Government of Uzbekistan holds a 50.01% ownership stake in LLC Universal Mobile Systems.
- This China Eximbank loan is not included in the China’s Overseas Development Finance Dataset that Boston University's Global Development Policy Center published in December 2020.
Sources & References
- Telecommunication Equipment and Infrastructure Modernization Project introduction
- HIT EXPORT-IMPORT BANKS OF ISHTIROKIDA 'UNIVERSAL MOBILE SYSTEMS' MCHZH MOBILE ALOKA OPERATORINING TECHNOLOGIST USKUNALARINI MODERNIZATION OF KILISH VA ALOKA TIZIMLARINI KENGAITIRISH' INVESTMENT LOYIHASINI AMALGA OSHIRISH CHORA-TADBIRLARI TUGRISIDA, 2020 China Eximbank loan to Uzbekistan.pdf (discussion draft)
- UMS and Huawei sign US$150 million memorandum
- Uzbek Ministry signs two agreements with Huawei, О МЕРАХ ПО РЕАЛИЗАЦИИ ИНВЕСТИЦИОННОГО ПРОЕКТА «МОДЕРНИЗАЦИЯ ТЕХНОЛОГИЧЕСКОГО ОБОРУДОВАНИЯ И РАСШИРЕНИЕ СИСТЕМ СВЯЗИ ОПЕРАТОРА МОБИЛЬНОЙ СВЯЗИ ООО «UNIVERSAL MOBILE SYSTEMS» ПРИ УЧАСТИИ ЭКСПОРТНО-ИМПОРТНОГО БАНКА КИТАЯ, ХИТОЙ ЭКСПОРТ-ИМПОРТ БАНКИ ИШТИРОКИДА «UNIVERSAL MOBILE SYSTEMS» МЧЖ МОБИЛЬ АЛОҚА ОПЕРАТОРИНИНГ ТЕХНОЛОГИК УСКУНАЛАРИНИ МОДЕРНИЗАЦИЯ ҚИЛИШ ВА АЛОҚА ТИЗИМЛАРИНИ КЕНГАЙТИРИШ» ИНВЕСТИЦИЯ ЛОЙИҲАСИНИ АМАЛГА ОШИРИШ ЧОРА-ТАДБИРЛАРИ ТЎҒРИСИДА
- UMS and Huawei signed a $150 million Memorandum-mobiuz, nbu_ifrs_ye2020_eng.pdf
- The state debt of the Republic of Uzbekistan 3 rd quarter of 2021.pdf
- JSC “NATIONAL BANK FOR FOREIGN ECONOMIC ACTIVITY OF THE REPUBLIC OF UZBEKISTAN”: Interim condensed consolidated financial statements, Ўзбекистон Республикаси Вазирлар Маҳкамасининг 03.04.2020 й. 196-сон _Хитой Экспорт-импорт банки иштирокида _Universal Mobile Systems_ МЧЖ мобиль алоқа операторининг технологик ускуналарини модернизация қилиш ва алоқа тизимларини кенгайтириш_ инвестиц, Хитой Экспорт-импорт банки иштирокида «Universal Mobile Systems» МЧЖ мобиль алоқа операторининг технологик ускуналарини модернизация қилиш ва алоқа тизимларини кенгайтириш» инвестиция лойиҳасини амалга ошириш чора-тадбирлари тўғрисида
- UZBEKISTAN IS RADICALLY IMPROVING ITS TELECOMMUNICATIONS INFRASTRUCTURE: FIGURES AND PROSPECTS Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
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National Bank for Foreign Economic Activity of the Republic of Uzbekistan (NBU)
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