The agreement brings support from Japanese companies to equipment exports by Uzbekistan’s  Backbone Telecommunication Network.

The Governor of the Japan Bank for International Cooperation (JBIC),  Tadashi Maeda signed an an export credit line agreement with the National Bank for Foreign Economic Activity of the Republic of Uzbekistan (NBU). on March 12th,  with the JBIC portion worth JPY4,727million yen.  Sumitomo Mitsui Banking Corporation is co-funding the loan bringing the total to approximately JPY 7,879 million, this portion is covered by NEXI, the Nippon Export and Investment Insurance

This credit line will provide much needed funds via the NBU to enable Uzbektelecom JSC, a state-operated telecommunications company to build a domestic telecom network.  The company is operating under the Ministry of Technologies and Communications, and will allow for NEC Corporation to purchase a backbone telecommunication network system from the Toyota Tsusho Corporation. 

The government of Uzbekistan has supported updating the backbone system in order to promote country wide high-speed, high-capacity telecommunications.  This has meant updating the system to reflect the progress in IT technology and the increasing use of smartphones.  The credit line will offer financial support to import the equipment they need from Japan and will help simultaneously help the Japanese companies to maintain and increase their competitiveness on the international stage. 

The JBIC, will continue to lend its support to Japanese companies deploying overseas.  This is a key part of it’s role as as Japan’s policy based financial institution.  It will continue to draw on its financial facilities and schemes for structuring projects, as well as performing a risk-assuming function.