South Korea's government approved a concessional loan of $74 mn to Uzbekistan for equipping local medical institutions with medical equipment, UzA has reported.
The funds will be provided from the Economic Development Cooperation Fund of the Export-Import Bank of Korea, with a repayment period of 40 years, including a 10-year preferential period.
The overall project cost amounts to $88.78 mn, with $74 mn as a loan, and $14.78 mn contributed by Uzbekistan through tax and customs exemptions. The Ministry of Health is the executing agency responsible for timely project implementation, coordination, and effective utilization of the loan from the Economic Development Cooperation Fund.
Value-added tax payable for goods and services procured and imported for the project will be covered by the State Budget. Any savings resulting from tax and customs exemptions or payment from the budget will be considered Uzbekistan's contribution to the project's realization.
Follow Daryo's official Instagram and Threads pages to keep up to date on world news.
Comments (0)