Tashkent, Uzbekistan (UzDaily.com) -- On 23 November, President of Uzbekistan Shavkat Mirziyoyev signed a resolution providing for additional measures of financial support for the National Television and Radio Company of Uzbekistan (NTRK).

According to the document, penalties accrued for late payments on a loan provided to NTRK by the Fund for Reconstruction and Development within the framework of the decree of the President of Uzbekistan from 27 June 2016 are written off.

In 2016, NTRK received a loan in the amount of 22.5 million euros at a zero-interest rate to modernize the television and radio company and switch to a digital broadcast format.

The new resolution extends the loan term from 10 to 13 years, and the state budget’s share of debt repayment increases.

According to the original plan, the loan of 22.5 million euros was to be repaid in equal shares by NTRK and the state. However, the company did not make payments and is now allowed to repay the debt over a longer period.

The state will cover the bulk of the loan, providing 21.1 million euros from the state budget, which is almost 10 million euros more than originally planned.