Uzbekistan plans to attract loan worth $20mln from ADB

Business Materials 9 March 2010 12:20 (UTC +04:00)

Uzbekistan, Tashkent, March 9 / Trend D.Azizov /

Uzbekistan Temir Yollari state joint-stock Railway Company plans to attract loan worth $20 million from the Asian Development Bank (ADB), a source in the governmental circles reported.

The interviewee said Uzbekistan implements a state comprehensive program on development and modernization of the railway industry worth $1.73 billion, covering the period up to 2014.

This includes construction of new railway lines, restoration of paths and it is planned to invest $490.32 million in infrastructure facilities, $223.9 million - the electrification of railways and $1,019 billion- the development of database maintenance and updating of the rolling stock.

About 1,000 meters of the Uzbek railways lengths 4,126 kilometers are worn out exceeded the permissible limits for depreciation in overexploitation.

The program will be financed through Uzbekistan Temir Yollari's and the Uzbek Reconstruction and Development Fund, as well as through funds to be barrowed from international financial institutions.

Earlier it is reported that Uzbekistan plans to attract about $700 million funds of the Asian Development Bank (ADB) for realization of priority projects by 2014.

So far, ADB has provided loans worth $140 million, including in 1999 -$ 70 million to a project for the reconstruction of railways in the area Chingeldy-Tashkent-Samarkand length 320 kilometers, for the modernization of the Uzbek railways. The project cost $126 million was completed in 2004. The Uzbek railways also invested in the project.

Uzbekistan has joined ADB since 1995. Altogether since 1995 ADB provided $1.29 billion to Uzbekistan for implementation of 30 projects in the sphere of education, agriculture, modernization of transport infrastructure and energy sector and technical assistance for 40, 75 million dollars.

ADB was created in 1966. 67 countries including 48 Asian countries are members of the bank.

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