ADB to issue Uzbekistan another multi-million loan

Business Materials 25 June 2018 19:58 (UTC +04:00)

Baku, Azerbaijan, June 25

By Fikret Dolukhanov – Trend:

The Asian Development Bank (ADB) is planning to allocate two loans to Uzbekistan for a total of $300 million to reform state enterprises and improve work of the energy sector, Uzbek website Podrobno.uz reported citing director of the ADB representative office in Uzbekistan, Takeo Konishi.

Konishi added that the ADB Council is expected to approve the allocation of loans on June 26.

Uzbekistan has received 65 loans totaling over $6.3 billion since joining the ADB in 1995.

Since 2001, thanks to ADB projects, more than 4.5 million Uzbeks have access to water and sanitation services. Since 2011, the rural housing development program, funded by ADB, has provided affordable housing with modern infrastructure to over 41,000 families in Uzbekistan living in rural areas.

The bank earlier announced plans to provide Uzbekistan with $2.6 billion in sovereign loans in 2017-2019 to continue development of infrastructure in energy, transport, utilities sectors, to strengthen support for housing construction in rural areas, and to improve access to financial resources for small and medium-sized enterprises and agriculture businesses.


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