Uzbekistan’s national postal operator O‘zbekiston pochtasi (UzPost) plans to open a 360 billion soum credit line in the form of an interest-free loan from Wildberries. State Assets Management Agency Director Sokhibjon Murodov said this at a press conference on October 8, Spot correspondent reports.
Earlier, a corporate resolution had been put on the agenda to obtain a 100 billion soum loan from Wildberries at 14% annual interest, but the issue was not put to a vote. The State Assets Management Agency raised questions about the purpose of the loan and how it would generate returns, after which UzPost management resumed negotiations with its partners.
“We are currently at the stage of preliminary agreements, and I want to make this clear to the public: the proposal is to open a 360 billion soum interest-free credit line. This does not mean the entire amount will be borrowed immediately. A credit line of 360 billion soums will be opened, and the funds will be used as needed. They may not be needed at all,” Murodov explained.
According to Murodov, every purchase and expenditure made using the funds will be assessed for efficiency. Meanwhile, five Wildberries representatives joined UzPost’s supervisory board at the agency’s invitation and received a majority of the seats because the company is providing the planned interest-free loan, the official said.
Murodov emphasized that the supervisory board does not interfere in the company’s day-to-day operations and only participates in strategic decision-making. The executive body and the state, as the company’s shareholder, remain unchanged.
“But we want to make use of its experience. In terms of developing the postal service’s growth strategy and effectively using the borrowed funds attracted by the postal service, we invited foreign representatives — representatives of Wildberries — to the supervisory board. However, this is a short-term contract. If it proves effective and delivers results, cooperation will continue. If there are no results, we will have the opportunity to apply other management methods,” Murodov said.
The English version of this material was generated with the assistance of AI translation tools and may differ slightly from the original text.
