BAKU, Azerbaijan, September 16. Uzbekistan’s state-owned oil and gas company Uzbekneftegaz and China’s Export-Import Bank of Xinjiang discussed a new credit line and financing terms for import projects.
This was stated by Uzbekneftegaz following a videoconference between its Chairman, Abdugʻani Sanginov, and Ye Linjun, Vice President of the Export-Import Bank of China in the Xinjiang Uyghur Autonomous Region, during which the parties discussed financing opportunities and potential new lending arrangements.
According to the information, the talks focused on further developing mutually beneficial financial cooperation, financing import projects, and proposals for a new credit line.
During the meeting, the Chinese bank offered a new credit line and expressed readiness to make its financing terms more favorable. The proposed adjustments include lowering the interest rate and extending the loan maturity, potentially creating more favorable conditions for Uzbekneftegaz to finance eligible import projects.
The sides discussed the proposed terms and emphasized the importance of reaching a mutually beneficial financing arrangement while maintaining long-term cooperation.
“The parties noted that the terms discussed would contribute to reaching a mutually beneficial solution and continuing long-term cooperation,” Uzbekneftegaz said.
The company and the bank agreed to continue negotiations on the areas discussed and work toward further developing the proposed financing arrangements.
Source: www.trend.az
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