BAKU, Azerbaijan, Aug. 18
By Ilkin Seyfaddini - Trend:
Uzbekistan is modernizing water supply systems in Bukhara region through a loan from the Asian Infrastructure Investment Bank (AIIB), Trend reports with reference to information-legal portal Norma.uz.
This was reflected in the resolution of the Cabinet of Ministers of Uzbekistan on modernization of water supply systems of Bukhara region.
As reported, AIIB approved a 25-year loan to Uzbekistan for the project on July 2, 2019.
The total cost of the project is $437.62 million, of which the AIIB loan is $385.1 million and Uzbekistan's contribution is $52.5 million. The project implementation period is four years (in the period from 2020 through 2023).
The resolution assigned Uzbek Kommunkhizmat Agency as the responsible executor.
Uzbekistan’s Ministry of Justice was instructed to provide, in accordance with the established procedure, a legal opinion on the loan agreement between Uzbekistan and AIIB.
Earlier, the Asian Infrastructure Investment Bank’s approved a loan of $165.5 million to Uzbekistan to improve the road efficiency as well as safety and climate resilience of major cross-border roads in the country's Bukhara region.
AIIB is a multilateral development bank with a mission to improve social and economic outcomes in Asia.
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