Japan has extended loans totaling 36.76 billion yen (approximately $230 million) to Uzbekistan for two energy efficiency projects, according to a press release from the Japanese Embassy in Tashkent.

The exchange of notes for the two projects was signed on June 10 in Tashkent by Japanese Ambassador Hirata Kenji and Uzbek Deputy Prime Minister and Minister of Economy and Finance Jamshid Kuchkarov.

The first project, "Improving Energy Efficiency in Public Buildings," provides a loan of up to 21.79 billion yen (about $136 million). The second, "Improving Energy Efficiency in the Industrial Sector," offers up to 14.97 billion yen (about $93.4 million).

Both loans are for a 25-year term, including a 7-year grace period. The interest rate for the principal loan is 2.4%, while consulting services carry a 0.8% rate.

The cooperation aims to modernize and introduce energy-saving equipment and technologies in public buildings and industry, reducing energy consumption and greenhouse gas emissions.

Source: kun.uz