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.