BAKU, Azerbaijan, April 14. The Uzbek Uztransgaz JSC will attract an additional loan for $257 million, including $57.5 million from the Russian Gazprombank for 2 years to extend the term of the previously received loan for $300 million and refinance current liabilities, Trend reports via Uzbek media outlets.
In addition, Uztransgaz will take a $200 million loan from the National Bank of Uzbekistan to replenish working capital, purchase raw materials and equipment, and finance investment projects.
According to the presidential decree, Uztransgaz was instructed to introduce a special system for managing the processes of privatization and transformation, which strengthens the independence of the supervisory board and its control over the management of the company.
In addition, the company was instructed to put its financial statements in order, conduct an inventory of accounts payable and receivable for natural gas and reduce it. Financial reporting must be conducted in accordance with international standards.
In 2024, Uztransgaz should receive an international credit rating and independently attract funds from international banks and others, ensuring financial discipline.
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