AIIB provides loan for development of water supply systems in Uzbekistan

Uzbekistan Materials 15 August 2023 05:00 (UTC +04:00)
Kamol Ismailov
Kamol Ismailov
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TASHKENT, Uzbekistan, August 15. The Asian Infrastructure Investment Bank (AIIB) has allocated funds to Uzbekistan for the implementation of the second phase of a project for developing water supply and sanitation systems in the Bukhara region, Trend reports.

In 2020, $385 million was allocated for the implementation of the first phase.

This time, the AIIB is providing a loan of $248.4 million for a period of 25 years.

The total cost of the second phase of the project is $281.25 million. Uzbekistan's contribution to the project's implementation in terms of value-added tax coverage and customs benefits is estimated at $32.85 million.

The AIIB is an international financial institution established in 2014, with its main goals being to promote development and economic integration in the Asia-Pacific region, as well as to stimulate financial cooperation and fund infrastructure projects.

Uzbekistan has been the bank's member since its establishment.