Uzbekistan plans to attract loan to improve water supply
Uzbekistan, Tashkent, Aug 29 /Trend D.Azizov/
Uzbekistan plans to attract a Korean Economic Cooperation Development Fund (EDCF) loan I to the sum of $80 million to improve the drinking water supply of three of the country's regions, a government source told Trend on Wednesday.
The project worth about $100 million provides for the modernisation and construction of water supply systems with a total length of 516.4 kilometres in six villages of the Namangan region, in three locations of Surkhandarya and one district of the Samarkand region.
According to the source, the issue of the loan will be discussed during the visit of the Minister of Finance of Korea Bak Jae Wan to Uzbekistan, scheduled for August 31.
The Uzbek side will provide $20 million for the project.
In May 2008, the EDCF and the Uzbek government signed an intergovernmental agreement to reserve preferential long term loans worth $120 million through 2011 to finance projects in Uzbekistan.
A supplement to the agreement providing the increase in reserve funds to $200 million and the timing of their use by the end of 2012 was signed in 2010, during the visit of President Islam Karimov to Korea.
To date, the EDCF directed concessional loans to the amount of $120 million to Uzbekistan for projects in the field of telecommunications, education and social services.