World Bank approves additional financing for dev’t of Uzbek regions

Finance Materials 14 June 2021 11:00 (UTC +04:00)
World Bank approves additional financing for dev’t of Uzbek regions

BAKU, Azerbaijan, June 14

By Klavdiya Romakayeva - Trend:

The World Bank (WB) approved additional financing in the amount of $100 million for the implementation of the project component "Integrated Development of Medium Cities" in Kashkadarya and Surkhandarya regions, Trend reports referring to the press service of the WB office in Uzbekistan.

WB reports that the International Development Association, a member of the World Bank Group, will provide the financing to the government of Uzbekistan in the form of a concessional loan at a very low interest rate and with maturity of up to 30 years.

It is noted that the additional financing will expand the geographical scope of the project, which has been implemented since 2019 with financial assistance from the World Bank in the cities of Bukhara (Kagan), Namangan (Chartak), Tashkent (Yangiyul and Pskent) regions.

In addition, activities under the new phase of the project will cover selected medium-sized cities in Kashkadarya and Surkhandarya regions. The final list of cities that will be involved in the project in this part of the country is planned to be approved within the next six months after the completion of consultations with regional and city administrations.

Within the framework of these programs the following can be financed: improvement and expansion of water supply and sewerage systems, modernization of electricity infrastructure and street lighting, highways, pedestrian and public transport areas, improvement of the energy efficiency of public buildings, reconstruction of public places, parks, streets and their corresponding infrastructure, restoration work to preserve cultural heritage objects on the territory of the corresponding settlements.

Moreover, about four million people, or about 70 percent of the total population in both regions, are expected to benefit directly or indirectly from improved urban infrastructure, municipal services, and increased employment opportunities through project activities that create new jobs.


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