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CDB provides $20 million loan to LLC ‘Uzavtotrans Service’ for the purchase of 168 Yutong buses
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | LLC ‘Uzavtotrans Service’ |
| Country | Uzbekistan |
| Start Date | Mar 01, 2019 |
| End Date | Jul 18, 2032 |
| Duration | 4,888 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 72729 |
Grant Description
CDB provides $20 million loan to LLC ‘Uzavtotrans Service’ for the purchase of 168 Yutong buses On March 5, 2018, Uzbekistan’s President Shavkat Mirziyoyev signed an order, authorizing the Uzbek government to actively study the opening of regular direct bus routes to neighboring countries and Russia to improve travel capabilities.
One year later, in March 2019, China Development Bank and LLC "Uzavtotrans service" — a joint venture of the Uzbek Agency for Automobile and River Transport (51% ownership stake) and the National Bank for Foreign Economic Activity of the Republic of Uzbekistan (49% ownership stake) — signed a $20 million loan agreement for the acquisition of Chinese buses.
However, it is known that the proceeds of the loan were to be used by LLC "Uzavtotrans Service" to finance a 2018 commercial contract with Zhengzhou Yutong Bus Co., Ltd.(for the acquisition of 168 Yutong buses). The buses were purchased for use on international routes that are in demand among labor migrants.
More specifically, the Yutong buses will run to Russia, Kazakhstan, Kyrgyzstan, Tajikistan and other countries. The first batch of 100 buses was delivered in March 2019. Then, on June 18, 2019, an official handover ceremony for the delivery of 168 Yutong luxury coaches (buses) took place.
LLC "Uzavtotrans Service" now provides regular bus services along 11 long-distance routes and five international routes: Tashkent-Taraz, Tashkent-Turkistan, Tashkent-Ushkunur, Tashkent-Alma-Ata, Chirchik-Ushkunur.
Staff Comments
- Several sources refer to the purpose of the loan as ‘ensuring the safety of citizens of the Republic of Uzbekistan when traveling abroad by transport from the territory of the Republic for temporary labor activities.’ 2. LLC 'Uzavtotrans Service' was founded in 2018.
- The Chinese project title is 乌道路交通服务公司从郑州宇通客车公司购买了168辆现代化客车.
- This CDB loan is not included in the China’s Overseas Development Finance Dataset that Boston University's Global Development Policy Center published in December 2020.
Sources & References
- 中国品牌客车助力乌开通至俄罗斯5城市客运班车, 168 Yutong coaches delivered to Uzbekistan
- Chinese bank to lend money to Uzbekistan to buy buses
- 中国国家银行将向乌兹别克斯坦提供2000万美元购车贷款
- Uzbekistan to buy passenger buses for safe transportation of its migrant workers
- Uzbekistan to buy buses for almost $ 20 million for international traffic
- Uzbekistan purchases 100 buses from China to organize international passenger transportation
- UZAUTOTRANS SERVICE-ministran
- Uzbekistan to launch direct bus service between Tashkent and Moscow
- More than 150 buses purchased for international flights (updated)
- The state debt of the Republic of Uzbekistan
- Five new bus routes to connect Uzbekistan with Russia
- Uzbekistan buys 68 buses from China for travels
- Uzbekistan buyes 68 buses from China for travels
- Chinese company exports buses to Uzbekistan, Китайская компания экспортирует автобусы в Узбекистан, КИТАЙСКАЯ КОМПАНИЯ ЗАВЕРШИЛА ПОСТАВКУ 68 АВТОБУСОВ YUTONG ООО «УЗАВТОТРАНС СЕРВИС»
- 中国品牌客车助力乌开通至俄罗斯5城市客运班车 Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
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LLC ‘Uzavtotrans Service’
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