Uzbektelecom to take €200 million loan from Swiss bank

The money will be directed to the development of telecommunications infrastructure in Uzbekistan with the participation of Huawei.

Photo: Spot

Uzbektelecom intends to take a large international loan from a Swiss bank, follows from the data of the Unified Portal of Corporate Information.

The corresponding decision was unanimously approved at the extraordinary meeting of shareholders held on June 16. It also adopted a new organizational structure of the state-owned company.

According to the protocol, Uzbektelecom will take €200 million from the Credit Suisse branch in London. The money will be used for a project to modernize the telecommunications infrastructure of the eastern regions jointly with Huawei.

The executive body of the state-owned company received the right to draw up documents related to attracting a loan. It will also monitor the intended use of the money received from Credit Suisse.