ADB to give $1.9B to Uzbekistan
Tashkent, Uzbekistan, Jan. 22
By Demir Azizov - Trend:
The Asian Development Bank (ADB) plans to allocate a loan of $1.89 billion to Uzbekistan in 2016-2018, according to a message posted on the ADB website Jan. 22.
During the next three years, the government of Uzbekistan, with the assistance of the ADB, intends to implement 22 investment projects worth about $5 billion in the sectors of energy, transportation, private business and education, land reclamation, and provision of population with drinking water.
It is planned to attract the main part of the loan - $605 million - to the construction of the national highway, which is a part of the Central Asian transport corridor.
ADB's loans of $490 million will be allocated for modernization of thermal power plants, construction of solar power plants, as well as modernization in hydropower industry and network infrastructure.
Loans worth $340 million will be allocated for land reclamation and water supply during the three years.
Uzbekistan became ADB member in 1995. Currently, Uzbekistan is the largest recipient of loans from this financial institution in Central Asia: ADB has allocated over $5 billion for implementation of over 40 investment projects at a total estimated cost of over $14.5 billion.