EBRD to fund construction of water conduit from groundwater deposits in Uzbekistan

Construction Materials 11 December 2020 05:01 (UTC +04:00)
EBRD to fund construction of water conduit from groundwater deposits in Uzbekistan

BAKU, Azerbaijan, Dec. 11

By Klavdiya Romakayeva - Trend:

Uzbekistan and the European Bank for Reconstruction and Development (EBRD) signed loan agreements totaling $150 million, Trend reports referring to the Ministry of Investment and Foreign Trade of Uzbekistan.

These funds will be used to implement the projects on vital infrastructure support program: credit to support the electricity sector and construction and reconstruction of networks to improve water supply in Muzrabad District of Surkhandarya Region by construction of a water conduit from the Oqtosh and Poshxurt groundwater fields.

The agreement was signed by the Deputy Prime Minister, Minister of Investments and Foreign Trade of Uzbekistan Sardor Umurzakov and the President of the EBRD Odile Renaud-Basso during a video conference.

The president of the EBRD expressed readiness to provide comprehensive support to accelerate reforms in the financial and banking sector and capital market, since the creation of a perfect and competitive environment, according to the head of the EBRD, will not only intensify the attraction of foreign investment in the economy of the country, but also to stimulate local enterprises and population to active entrepreneurial activity.

In addition, the progress of the implementation of a number of projects in the field of energy, housing and communal services, ecology and the private sector, totaling more than one billion euros, was substantively reviewed.

The parties exchanged views on the possibilities of accelerating the implementation of these projects, as well as on promising mechanisms for interaction to overcome the negative impact of the pandemic on the economy of Uzbekistan.


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