Uzbekistan’s Ministry of Finance signs major agreement with World Bank

Business Materials 18 January 2020 11:37 (UTC +04:00)
Uzbekistan’s Ministry of Finance signs major agreement with World Bank

BAKU, Azerbaijan, Jan. 18

By Fakhri Vakilov-Trend:

Uzbekistan’s Deputy Prime Minister and Minister of Finance Jamshid Kuchkarov held a meeting with Vice President of the World Bank Cyril Muller, Trend reports citing Uzbekistan’s Ministry of Finance.

During the meeting, the results of the past 2019 in the financial and economic life of the country, the adoption of the State budget and the new edition of the tax code were discussed.

Muller emphasized that the adopted Law on the State Budget for 2020 is an effective measure to continue transformations in the economic life of the country.

As part of the meeting, a $100 million loan agreement was signed on the “Prospecrous of the Village” project, which is aimed at improving the quality of social infrastructure and the standard of living of the population of rural areas of Fergana, Andijan, Namangan, Jizzakh and Syrdarya regions.

The World Bank approved financing projects in Uzbekistan for a total of $956.6 million in 2019.

Last year, the World Bank financed projects in Uzbekistan related to the development of entrepreneurship in the Ferghana Valley ($200 million); institutional capacity building ($33 ​​million); improving the early development of children ($73.8 million); providing budget support ($500 million); strengthening social safety nets ($50 million); and the implementation of the project "Prosperous village" ($100 million).


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