EBRD may provide $90 M loan to Uzbekistan
Baku, Azerbaijan, Sept. 18
By Fakhri Vakilov-Trend:
Cabinet of Ministers of Uzbekistan adopted a draft resolution with the purpose to modernize the sewage system in the Khorezm region, Trend reports citing regulation.gov.uz portal.
For the implementation of this project, the European Bank for Reconstruction and Development (EBRD) can provide a loan of $90 million, the report said.
According to the draft, the loan will be granted to Uzbekistan for 15 years, including a five-year grace period.
Modernization of sewer systems will affect the cities of Urgench, Khiva, Pitnak and Gurlen.
The project is planned to be completed by 2023.
The resolution also includes the total cost of the project, which amounts to $114.5 million.
The remaining funds of $24.5 million will be allocated by the state, but this amount will be presented in the form of tax and customs benefits.
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