JAPANESE LENDING IN THE REGION.

Japan’s Export-Import Bank has announced that it is granting Kazakhstan a loan of 166 million dollars, as part of an IMF/WB financing package to support economic reforms in that country. This week a Japanese governmental and business delegation discussed possible investment in Kyrgyzstan with that country’s president Askar Akaev. Also this week, the Bank of Tokyo loaned 131 million dollars on preferential terms to Uzbekistan to modernize its telecommunications network. In June, Japan’s governmental lending agency had granted Uzbekistan a credit of 140 million dollars to upgrade communications in the Aral area.14