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Uzbekistan plans to attract $500 million from ADB in 2011

Business Materials 21 December 2010 15:20 (UTC +04:00)

Uzbekistan, Tashkent, Dec. 21 / Trend D.Azizov /

Uzbekistan plans to attract a $500 million credit line from the Asian Development Bank (ADB) in 2011 for the State Program on Individual Housing Construction in Rural Areas in 2011-2012, a source in the government reported.

The government and the Bank experts discussed options and details of the project, the ADB Office in Uzbekistan told Trend. ADB management expects to receive the project in early 2011. The bank's board of directors will consider the allocation of a credit line by the end of the first quarter of 2011.

So far, loans from the Uzbek state budget and the preferential mortgage loans of the specially created Kishlok Kurilish Bank (KKB- Rural Development Bank) carried the program.

In mid-2010, President Islam Karimov issued a decree "On additional measures to improve individual housing construction in rural areas based on model projects."

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