Tashkent, Uzbekistan (UzDaily.com) - A draft order of the President of the Republic of Uzbekistan “On the implementation of the project “Acquisition of ten rolling stock cars for the elevated line of the Tashkent Metro” is being discussed on the portal for discussing draft regulatory documents of the Republic of Uzbekistan.

According to the order, Uzbekistan Temir Yollari JSC, in accordance with the resolution of the President of the Republic of Uzbekistan dated May 19, 2017 No. PP-2979, implements the project “Construction of the underground ring line in the city of Tashkent” with a completion date of 2021. There is also consent to the proposal of the Ministry of Finance, the Fund for Reconstruction and Development, and Uzbekistan Temir Yollari JSC on the implementation of the project “Acquisition of ten rolling stock cars for the elevated line of the Tashkent Metro”. It is allowed to conduct direct negotiations with JSC Metrovagonmash (Russian Federation) on the joint implementation of the project, as well as the signing of the relevant agreement following the results of negotiations.

The following funds of the State budget of the Republic of Uzbekistan were identified as sources of project financing:

- a loan from the Fund for Reconstruction and Development of the Republic of Uzbekistan - in US dollars in the amount equivalent to US$5.53 million euros, - allocated for payment of 20% of the value of the import contract and refinanced by the National Bank for Foreign Economic Affairs of the Republic of Uzbekistan for a period of 10 years with a grace period of 3 years and an interest rate equal to the rate of the 6-month LIBOR plus 1.5% per annum, including the margin of the refinancing bank in the amount of 0.5%.

- a loan from the State Corporation “Bank for Development and Foreign Economic Affairs” (Russia) in the amount of 22.14 million euros, allocated to pay 80% of the value of the import contract and refinanced by the National Bank for Foreign Economic Affairs of the Republic of Uzbekistan. Its term is 10 years, including a grace period of 3 years, with an interest rate of 2.5% per annum, including a refinancing bank margin of 0.5%.