World Bank approves loans totaling over $294M for Uzbekistan
Tashkent, Uzbekistan, July 4
By Demir Azizov – Trend:
The World Bank (WB) approved two loans totaling $294.9 million to the government of Uzbekistan for projects in land reclamation and livestock sector, the WB said in a message.
The bank approved a loan worth $144.9 million for the implementation of the Second Phase of the Ferghana Valley Water Resources Management Project.
In 2010, the WB allocated $65.5 million for the implementation of the first phase of the project.
The new funds will be allocated for a period of 20 years, including a five-year grace period.
The second loan worth $150 million will be allocated for the project on livestock sector development in Uzbekistan.
The International Development Association, which is the part of the World Bank, will allocate $120 million and the International Bank for Reconstruction and Development will allocate $30 million.
Uzbekistan joined the World Bank in 1992.