Uzbekistan secures $180 million loan for modernizing urban transport fleet

The China Development Bank will allocate a loan totaling $180 million to the Ministry of Transport of Uzbekistan.

Photo: Ministry of Transport

As per the government decree "On measures to implement the investment program of the Republic of Uzbekistan for the first quarter of 2024," the China Development Bank will provide the Ministry of Transport with loan funds totaling $180 million for the procurement of 1000 natural gas-powered buses and 200 electric buses for "Toshshahartransxizmat".

$120 million of the funds will be sourced from an International Financial Organization to purchase 1000 large-capacity buses operating on compressed natural gas for the city of Nukus and regional centers.

An additional $60 million will be used to update the fleet of "Toshshahartransxizmat" by acquiring 200 high-capacity electric buses and the necessary charging equipment.