Kuwaiti fund to finance housing construction in Uzbekistan
Baku, Azerbaijan, Jan. 31
By Nigar Guliyeva - Trend:
Uzbekistan and the Kuwait Fund for Arab Economic Development (KFAED) signed a loan agreement for $30 million, Uzbek media reported.
The funds will be directed to the implementation of the project "Development of housing construction in rural areas and arrangement of the necessary engineering, communication and road infrastructure".
The project provides for the construction of 138 km of roads, 198 km of water supply network, 151 km of electricity supply network, 151 km of gas supply network, social and market facilities in Karakalpakstan, Kashkadarya, Samarkand, Surkhandarya, Fergana and Tashkent regions.
Kuwait recognized the independence of Uzbekistan on Dec. 30, 1991, while diplomatic relations between the countries were established in July 1994.
The Kuwaiti Fund for Arab Economic Development is actively participating in the programs of social and economic development of Uzbekistan. To date, several large projects have been implemented jointly with KFAED in Uzbekistan aimed at improving the water supply of the population, transport infrastructure and the development of medical services in the country.