IDB to allocate more than $57 M for sewage system modernization in one of Uzbek regions

Business Materials 13 March 2015 19:45 (UTC +04:00)

Tashkent, Uzbekistan, Mar.13

By Demir Azizov- Trend:

The Board of Executive Directors of the Islamic Development Bank (IDB) has approved the allocation of $57.5 million to the Uzbek government in order to upgrade the sewage system in the Syrdarya region (central part of the country), the Tashkent office of the IDB told Trend March 13.

The decision was made on March 12, and the funds will be allocated on terms of "installment sale", according to the member of the office.

It is expected that an agency agreement between the IDB and the government of Uzbekistan will be signed in the second quarter of 2015.

The project worth $157 million provides for renovation and expansion of sewerage systems of the three cities of the region - Gulistan, Shirin and Yangiyer. Project implementation period is four years. In addition to the IDB funds, financing of the modernization of the sewerage system will be made at the expense of loans from other international financial institutions, as well as funds of the Uzbek side.

Uzbekistan joined the IDB in 2003. During this time, the bank has allocated to the country more than $830 million for the implementation of 18 projects in the areas of health care, education, agriculture, electricity, transport and support for private entrepreneurship.

Edited by CN