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ADB confirms support for Uzbekistan's development and reform program

Business Materials 21 September 2018 17:20
The Vice-President of the Asian Development Bank (ADB) Wencai Zhang confirmed ADB's support for the Uzbek government's development and reform program, and expressed confidence in the country's economic prospects during his four-day visit to Uzbekistan on September 19-22.
ADB confirms support for Uzbekistan's development and reform program

Baku, Azerbaijan, Sept. 21

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The Vice-President of the Asian Development Bank (ADB) Wencai Zhang confirmed ADB's support for the Uzbek government's development and reform program, and expressed confidence in the country's economic prospects during his four-day visit to Uzbekistan on September 19-22, "UzDaily.uz" reported.

Zhang met with Prime Minister of the Republic of Uzbekistan Abdulla Aripov, First Deputy Prime Minister Achilbay Ramatov, Deputy Prime Minister, Chairman of the State Committee for Investments and Governor on the part of ADB Sukhrob Kholmuradov, Deputy Prime Minister and Finance Minister Jamshid Kuchkarov, and other senior officials.

The ADB is preparing a new five-year Partnership Strategy with Uzbekistan to build a stronger foundation for inclusive, diversified and sustainable economic growth, improved governance and institutional capacity, and to promote regional cooperation and connectivity.

The strategy of partnership with the country for 2019-2023 will be aimed at supporting the national development strategy and priorities of the government of Uzbekistan. The ADB plans to mobilize more than $1 billion per year over the next three years in order to improve water supply and sanitation, to develop transport infrastructure, energy production and distribution, youth employment, to create jobs in rural areas, to expand access to modern health care services, and to support the government's reform program aimed at improvement of economic governance and social protection.

Since joining ADB in 1995, Uzbekistan has received 67 loans totaling $ 7.0 billion, including two loans allocated to the private sector totaling $ 225 million. ADB has also allocated $6 million in the form of equity investments, $218 million - in the form of guarantees, and $83.6 million - in the form of technical assistance grants. In 2018, the ADB signed loan agreements totaling $750 million in order to improve the efficiency of electricity generation and to support ongoing reforms through more efficient management of the country's economy.

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