UzPost Negotiates Interest-Free Loan of 360 Billion Soms with Wildberries
The Agency for Management of State Assets has announced preliminary agreements with the company to open a credit line for the national postal operator.
Uzbekistan's national postal operator, UzPost, is discussing with Wildberries the possibility of obtaining an interest-free loan of up to 360 billion soms. The funds will be available as needed and may not be spent at all, stated Sokhibjon Murodov, Director of the Agency for Management of State Assets.
Previously, it was planned to attract 100 billion soms at an annual interest rate of 14%, but the issue was not put to a vote. After clarifying the purposes of the loan and its repayment mechanisms, negotiations resumed.
Five representatives of Wildberries have joined the supervisory board of UzPost, where they have secured a majority of seats. Their involvement will be limited to strategic decisions, including assessing the efficiency of spending the borrowed funds. The company's operational activities will remain under state control.
