KHUJAND, April 15, 2011, Asia-Plus — 100 new Chinese-made buses are expected to appear on streets of Khujand, the capital of Sughd province in the second half of this year. The buses will be purchased due to funds provided by the European Bank for Reconstruction and Development (EBRD), Khujand Mayor Sodiq Mirkholiqov told Asia-Plus today.
According to him, they planned to purchase the buses last year. “We conducted negotiations with partners in China and signed a memorandum on cooperation with one of Chinese banks,” said Mirkholiqov, “But terms offered by the bank proved to be unacceptable for us. They offered the loan only for five years at 12 percent annual interest.”
“We have managed to come to an agreement with the EBRD; the EBRD experts were in Khujand and studied the situation. The Bank has agreed to fund the project costing US$61.5 million,” noted the mayor, “The project provides for purchase of 600 trolleybuses and buses as well as broadening of the city’s roads. 40 percent of the total amount is provided in a form of grant, while the loan is repayable over 20 years with a three-year grace period and an annual service charge of 1%.”
He noted that the project would be implemented in several stages and the first tranche – US% million – would go to purchasing and delivering 100 buses. The buses are expected to arrive in Khujand in September-October this year.
