Uzbekistan attracts loans worth over $1B in 1H17
Tashkent, Uzbekistan, July 18
By Demir Azizov – Trend:
The Uzbek government attracted loans in the amount of about $1.025 billion from international financial organization in January-June 2017.
According to messages posted on the website of Uzbekistan’s Finance Ministry, the government signed six loan agreements for the amount of $611.47 million in 1Q17 in order to implement projects worth $845.5 million, and four loan agreements for an amount of $413.04 million for the implementation of projects worth $470.24 million.
Thus, the volume of attracted loans totaled $1,024.51 million since the beginning of the year for the implementation of projects worth $1,315.74 million.
According to the Finance Ministry, the biggest part of the loans – $573 million – was allocated by the Asian Development Bank (ADB).
The ADB allocated a loan in the amount of $100 million to support the development of small and private entrepreneurship, the cost of which is $133.3 million, $198 million – for reconstruction project of the Karshi-Shahrisabz-Kitab highway, the cost of which is $266.2 million, $120.9 million – for reconstruction and construction of water supply and sewerage systems in cities and districts of the Tashkent region (Phase 1, costs $143.8 million), $154 million – for the project “Development of the value chain in the fruit and vegetable sector”, which costs $240.9 million.
Moreover, the Islamic Development Bank (IDB) allocated loans in the amount of $344.48 million for two projects: $300 million for the implementation of project “Construction of Modern Residential Buildings in Rural Areas” (Phase 2) and $44.48 million – for the project “Strengthening the material and technical base of higher education institutions”.
The Uzbek government also signed two loan agreements worth $56 million with the World Bank (WB). A loan in the amount of $14 million will be used for the implementation of the program on adaptation to climate change and mitigation of its consequences for the Aral Sea basin, which costs $20.71 million, and a loan in the amount of $42.2 million – for the strengthening the material and technical base of higher education institutions (total cost of the project is $72.95 million).
The Saudi Fund for Development (SFD) allocated a loan in the amount of $26.36 million for the reconstruction project of the water supply systems in rural areas, which costs $52.81 million.
Meanwhile, the International Fund for Agricultural Development (IFAD) allocated a loan worth $23.87 million and a grant worth $0.7 million for crediting farms and processors of dairy products (the project’s total cost is $40.57 million).
According to Uzbekistan’s Finance Ministry, the government attracted loans in the amount of $508 million in 4Q16 for the implementation of projects with a total cost of $809.17 million.