Uzbekistan intends to attract loans worth $700 million from ADB

Business Materials 18 February 2010 14:56 (UTC +04:00)

Uzbekistan, Tashkent, Feb.18 / Trend D.Azizov /

Uzbekistan intends to attract loans worth $700 million from the Asian Development Bank (ADB), the source in the government told

The Uzbek government including interested ministers and agencies began discussing financial cooperation program for 2011-2013 with the ADB representatives, the source said

The Uzbek government intends to realize about 20 investment projects aimed at promoting regional cooperation, transport communications, the private business sector and education, improving the quality of reclaimed land, supplying population with potable water, supporting small business with financial assistance from the ADB

The government is planning to attract loans worth $500 million for the construction of Guzar-Bukhara-Nukus-Beineu highway, which is part of the Central Asian regional transport corridor

An exact list of the projects identified for joint implementation in the specified period will be determined through the negotiations between the government agencies and the ADB representatives

Uzbekistan is a member of the Asian Development Bank since 1995 and today the largest recipient of loans of the bank in the Central Asia. Since 1995, The ADB allocated Uzbekistan $1.29 billion for the implementation 30 projects including education, agriculture, modernization of the transport infrastructure and energy sector and $ 40.75 million technical assistance grants.