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Uzbekistan to purchase 6 high-speed electric trains
The project of purchasing 6 high-speed electric trains will be implemented in Uzbekistan with the participation of Korea Eximbank.
Photo: Yonhap
A presidential decree “On measures to implement the project “Purchase of 6 high-speed electric trains” with the participation of Korea Eximbank” was adopted.
According to the decree:
• Uzbekistan Railways JSC and Temiryulekexpress JSC, which is part of it, are the executive bodies responsible for the timely and quality implementation of the project and the targeted and effective use of the debts of Eximbank of Korea;
• Uzmilliybank JSC is a financial agent for settlement of debts provided by Korea Eximbank;
• Reimbursement of debts allocated by Eximbank of Korea, including interest and other payments, will be made from the funds of Temiryulekexpress JSC, part of Uzbekistan Railways JSC.
The Minister of Economy and Finance was authorized to sign the debt refinancing agreement on behalf of the government.
Uzmilliybank JSC was authorized to sign an interbank agreement with an authorized bank of the Republic of Korea to settle the debt of Korea Eximbank.
