BAKU, Azerbaijan, September 16. Uzbekistan’s
state-owned oil and gas company Uzbekneftegaz and China’s
Export-Import Bank of Xinjiang discussed a new credit line and
financing terms for import projects.
This was stated by Uzbekneftegaz following a videoconference
between its Chairman, Abdugʻani Sanginov, and Ye Linjun, Vice
President of the Export-Import Bank of China in the Xinjiang Uyghur
Autonomous Region, during which the parties discussed financing
opportunities and potential new lending arrangements.
According to the information, the talks focused on further
developing mutually beneficial financial cooperation, financing
import projects, and proposals for a new credit line.
During the meeting, the Chinese bank offered a new credit line
and expressed readiness to make its financing terms more favorable.
The proposed adjustments include lowering the interest rate and
extending the loan maturity, potentially creating more favorable
conditions for Uzbekneftegaz to finance eligible import
projects.
The sides discussed the proposed terms and emphasized the
importance of reaching a mutually beneficial financing arrangement
while maintaining long-term cooperation.
“The parties noted that the terms discussed would contribute to
reaching a mutually beneficial solution and continuing long-term
cooperation,” Uzbekneftegaz said.
The company and the bank agreed to continue negotiations on the
areas discussed and work toward further developing the proposed
financing arrangements.
