IDB to extend $655 mln loan to Uzbekistan in 2011-2013

Business Materials 1 July 2011 11:21 (UTC +04:00)

Uzbekistan, Tashkent, July 1 / Trend, D. Azizov /

The Islamic Development Bank (IDB) and the Uzbek government signed a cooperation program for 2011-2013, which plans to allocate $655.5 million for 11 investment projects, said the Uzbek Foreign Ministry's statement.

The document was signed at an annual Islamic Development Bank (IDB) governors' meeting in Jeddah (Saudi Arabia) on June 28-30.

The ministry's statement omits the list of projects planned as part of the IDB loan.

Uzbekistan joined the IDB in 2003. So far, the bank has allocated $464 million to Uzbekistan to implement 15 projects.

IDB funds have particularly been directed toward equipping the Republican Centre for Medical Emergency and its regional branches, construction of 500 kW transmission lines from the Syrdarya thermal power plant to the Sogdiana substation, construction of training colleges, equipping schools, financing private entrepreneurship using credit lines from the Bank of Uzbekistan, modernization and equipping enterprises for the production of asphalt concrete for the capital's highway development, reconstructing roads, and contributing to reforms in public financial management.