Uzbekistan, Tashkent, Dec 7 /Trend D.Azizov/
The World Bank (WB) board of directors has approved a strategy for financial cooperation with Uzbekistan in 2012-2015 and allocated $1.3 billion to the country on Tuesday, the Tashkent office of the World Bank said to Trend on Wednesday.
The bank's representative noted that the plan for the bank's financial assistance is for 15 public investment projects amounting to $325 million annually in energy, transport, irrigation, petrochemical and textile, agro-processing, improving the quality of medical services.
Loans will be provided by the International Development Association (IDA, is a member of World Bank) for up to 40 years, including a 10-year grace period, at a rate of 0.75 per cent per annum. Resources of the International Bank for Reconstruction and Development (IBRD) will be used in addition.
Besides providing debt assistance the WB group includes offering advice on the project areas.
Uzbekistan joined the World Bank in 1995. During this time, the WB gave loans amounting to $1.46 billion for projects in the field of privatisation, the financial sector development, modernisation of agriculture, energy, social infrastructure improvements and health and education.