AIIB implements 2 multi-million dollar projects in Uzbekistan (Exclusive)

AIIB implements 2 multi-million dollar projects in Uzbekistan (Exclusive)

Baku, Azerbaijan, Sept.5

By Fakhri Vakilov-Trend:

The Asian Infrastructure Investment Bank (AIIB) currently has two proposed projects in Uzbekistan, representative of the bank told Trend in an interview

"The first is Bukhara Region Water Supply and Sewerage Project with the objective to provide access to safe, reliable and affordable water supply, and sanitation services in the Bukhara region," the representative noted.

The official stressed that the project includes investment in water supply infrastructure and in sewerage infrastructure along with capacity building and implementation support.

The project is expected to benefit about 1.67 million people.

"Phase I of the project is expected to benefit about 1.05 million residents of the prioritized areas in the Bukhara region. Phase II of the project is expected to benefit about 620,000 people," the representative added.

The official stressed that the Phase I project cost $422 million; the AIIB loan is $357 million (85 percent) and $65 million (15 percent) will be covered by Uzbekistan.

"Phase II project cost is $236 million. AIIB will loan $200 million (85 percent), while Uzbekistan will cover the remaining $36 million (15 percent)," AIIB’S representative added.

The official stated that Ministry of Housing and Communal Services of Uzbekistan will be the implementing the project. "Estimated date of loan closing is April 2024," official noted.

The second project, according to the bank’s representative, is Railway Electrification Project (Bukhara-Urgench-Khiva), which aims to improve connectivity of the railway network connecting the cities of Bukhara, Urgench and Khiva in western Uzbekistan, reduce travel time and increase the freight handling capabilities of the rail connections amongst these cities.

"The project will be implemented by Uzbekistan Railways JSC under the Ministry of Finance. The project is expected to be completed in December 2022," the official said.

The official underlined that the project comprises of the electrification of three railway segments and the construction of associated auxiliary facilities.

"The three railway segments are 357km line between the cities of Bukhara and Misken, 77km line between the cities of Misken and Urgench, and 33km line between the cities of Urgench and Khiva," the representative stated.

The total cost of the project is $339.1 million. AIIB’s loan amount to $168.2 million, while $170.9 million will be covered by Uzbekistan Railways.

The representative added that a potential collaboration with Uzbekistan and the neighboring countries may help the bank to achieve better connectivity on both sides of the border, and foster Asia’s integration and economic growth through the implementation of inter-regional infrastructure projects.

---

Follow author on Twitter:@vakilovfaxri

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