National Bank of Uzbekistan for Foreign Economic Relations (NBU) and Chinese Export-Import Bank signed two credit agreements for US$31.4 million.

One of the agreements envisages purchase of digital equipment to modernize and upgrade telecommunication network of Uzbektelecom, while second directed to purchase power generators for 514 GWt/hour per year to Topolang hydroelectric power station.

NBU and Bank of China signed agreements directed to deepening technical-economic cooperation of two countries. The agreement stipulates issue of 100 million yuans of interest free credits to Uzbekistan.

As earlier reported, the NBU signed agreement with Chinese Export-Import Bank for US$300 million in 2004.