BAKU, Azerbaijan, June 10. The Board of Executive Directors of the World Bank (WB) approved a soft loan of $142 million for Uzbekistan to restore forests and degraded lands in the country, Trend reports citing "Gazeta.uz".
These funds will be used to finance a project that will assist in improving the sustainability of landscapes and reforestation in various regions of the country, as well as in developing cooperation between Uzbekistan and other Central Asian states in the field of restoration of transboundary natural zones.
The loan itself will be granted for a period of 30 years, at a reduced interest rate with a five-year grace period, supporting the forestry development plan of Uzbekistan until 2030.
To date, the World Bank program in Uzbekistan is the largest operation of the organization in the region of Europe and Central Asia after Turkiye. It consists of 29 projects totaling about $5.4 billion.