Tashkent, Uzbekistan, Sept.2
By Demir Azizov- Trend:
Board of Executive Directors of the Islamic Development Bank (IDB) has approved the allocation of $100 million for housing construction in rural areas of Uzbekistan, the IDB representative in Tashkent told Trend Sept.2.
The loan agreement may be signed before the end of this year, the member of the mission said.
As previously reported, Uzbekistan has approved a program of housing development in the rural areas for the period up to 2015 totaling $2.2 billion.
The program provides for the construction in the regions of 41,400 of model buildings with a total living space of about 6 million square meters.
In particular, some 11,000 individual houses are planned to be built in 2014. A part of the borrowed funds of the Asian Development Bank (ADB) in the amount of $100 million provided by the bank as part of the second tranche of multi-tranche house construction totaling $500 million, as well as special lines of credit of the finance ministry in the national currency refinanced through domestic banks were allocated for housing construction this year.
In 2013, Uzbekistan had built 10,000 houses, including 8,510 with the assistance of the ADB loan and 1,490 with the assistance of subsidized loans from banks and targeted credit line of the Ministry of Finance.
Uzbekistan has been a member of the IDB since 2003. The bank participates in the co-financing of development projects of health, education, agriculture, irrigation, power, transport and support for private enterprise.
At present the total amount of credits and investments of the bank in Uzbekistan's economy exceeds $1 billion on 38 projects, the IDB says.