WB can allocate $4B worth loan to Uzbekistan
Tashkent, Uzbekistan, Oct.30
By Demir Azizov- Trend:
The World Bank (WB) and the government of Uzbekistan are to complete the development of the partnership strategy for 2016 - 2020, WB's Tashkent office told Trend.
The total amount of planned financial assistance to the country in this period is $3.5-$4 billion, according to the partnership strategy.
During the consultations with the government in September 2015, the two sides discussed and determined the areas for cooperation, taking into account the priorities of the country's development and its short-term and medium-term needs related to the regional and global challenges, according to the WB representative.
Availability and efficiency of state services, including water supply, development of energy, transport and transport infrastructure, health services, and skills training are among them.
The partnership strategy envisages not only financing, but also technical assistance, economic and industrial research jointly with the Uzbekistan's government.
In total, as part of the cooperation strategy for 2016-2020, it is planned to implement about 25 projects which will be financed with the funds of World Bank's structural divisions - International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA).
As part of the WB country strategy for 2012-2015, IBRD and IDA have allocated over $1.5 billion for financing 12 investment projects in Uzbekistan in the sphere of agriculture, water resources, water supply, energy, transport, heath care and education.
This is while the International Finance Corporation (IFC) has allocated $8 million in the finance and insurance sector, and $ 1.1 million - agriculture.
Uzbekistan joined the World Bank in 1992. The World Bank's mission in the country is to improve the people's living standards by supporting the economic reforms, modernization of the infrastructure and social sectors, as well as providing knowledge and experience to the government and people of Uzbekistan.
Edited by SI