Tashkent, Uzbekistan (UzDaily.com) - The Russian Export Center (part of VEB.RF) will support a large infrastructure project to modernize 202 outdated pumping stations in Uzbekistan. The agreement on the provision of financing for US$577 million was signed by REC JSC, VEB.RF and the Ministry of Water Resources of the Republic of Uzbekistan on the sidelines of the second Russian-Uzbek interregional forum.

Russian exporters will supply 80% of the equipment required for the project. Thus, pumps, electric motors and electrical devices will be purchased from Russian manufacturers.

“We intend to continue active cooperation with Uzbekistan in existing projects, as well as develop a new partnership, the cost of which we estimate at US$11 billion. We can select bona fide domestic manufacturers who are ready to implement projects in the field of modernization of passenger traffic, alternative energy, construction of greenhouse complexes and much more,” said REC Director General Veronika Nikishina. 

JSC Russian Export Center (REC, part of VEB.RF) is a state institute for the support of non-resource exports, consolidating a group of companies that provide Russian exporters with a wide range of financial and non-financial support measures. The REC Group integrates the Russian Agency for Insurance of Export Credits and Investments (AO EXIAR), AO ROSEKSIMBANK and ANO School of Export, which makes it possible to ensure the availability of a product offer that meets the needs of exporters of various profiles at different stages of the export cycle - from the idea until payment is received for exported goods and services.