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Uzbek telecom to receive $150m loan from Japanese lenders

JBIC and MUFG to finance development of communications network

Japan seeks to expand trade with Uzbekistan, a Central Asian country with strong ties with China and Russia.    © Reuters

TOKYO -- Japan Bank for International Cooperation and MUFG Bank will extend roughly 19.3 billion yen ($148 million) in financing to Uzbekistan's state-owned telecommunications company to support infrastructure development in the Central Asian country.

The government-backed JBIC will foot about 60% of the financing to Uzbektelecom while MUFG Bank, Japan's largest bank, will sign on as a co-lender. MUFG Bank's portion will be insured by Japan's state-owned Nippon Export and Investment Insurance.

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