Uzbekistan becomes leader in attracting financing from int'l development banks
Baku, Azerbaijan, August 1
By Fakhri Vakilov - Trend:
The international development banks (IDB) of the CIS countries from April to June financed more than 40 projects totaling $2.720 billion, Trend reports with reference to the press service of the Eurasian Development Bank.
The first place in terms of attracted sovereign financing of IDB among the CIS countries was taken by Uzbekistan (51 percent). The country attracted $867.8 million in government and municipal infrastructure, as well as transport and social sectors.
Belarus raised $303.4 million (18 percent). The share of Ukraine was 12 percent, Tajikistan - 6 percent, Moldova - 4 percent, Armenia - 1 percent.
In total, between April and June, the IDB in the CIS countries donated $2.720 billion. Of these, 38 percent or $1.034 billion went to the private sector which is 13 percent more than in the first quarter, and 62 percent to the sovereign sector.
The Eurasian Development Bank (EDB), the European Bank for Reconstruction and Development (EBRD), the European Investment Bank, the International Bank for Economic Cooperation, the Russian-Kyrgyz Development Fund and the Black Sea Trade and Development Bank have already approved 34 new projects.
The bulk of investments are in the EBRD and EDB - at 44 percent and 37 percent of the total financing of all banks, respectively. Most of the projects (33 percent) are implemented in the financial sector - the total amount of loans of IDB for it was $ 345.9 million.
The maximum share of approved financing falls on investment projects in Kazakhstan (25 percent, 8 projects worth $ 257.7 million) and Russia (25 percent, 5 projects worth $253.5 million). EBRD was the main investor in Kazakhstan, in Russia - the EDB.
The Asian Development Bank, EBRD, the European Investment Bank, the Eurasian Fund for Stabilization and Development and the World Bank allocated $1.686 billion for financing 19 projects, including: special sovereign loans to governments, technical assistance, grants. So, in comparison with the first quarter ($1.168 billion), this figure increased by 225 percent.
The total amount of funding in the amount of $533.2 million went to the general government (32 percent). The bulk of the debt comes from the World Bank loan to Uzbekistan in the amount of $500 million to support economic reforms.
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