TASHKENT, Uzbekistan, September 14. Asian Development Bank (ADB) has allocated $93 million for the "Skills development for the modern economy" project in Uzbekistan, Trend reports.
The news followed a meeting between a Minister of Employment and Poverty Reduction of Uzbekistan Behzod Musayev and a delegation headed by the Head of the Human Resources Development Sector of the Asian Development Bank (ADB) Ayako Inagaki.
The "Skills development for the modern economy" project is aimed at increasing the competitiveness of Uzbekistan's industries, promoting inclusive growth through vocational training of young people and the unemployed, as well as contributing to the development of human resources as a skilled workforce in such sectors as construction, textile and clothing industry, information and communication technologies, agribusiness and food industry, machinery and equipment service.
In 2022, ADB handled 5 new public sector projects and programs for just over $1 billion to Uzbekistan. Up until now, ADB has pledged a sum of $11.5 billion for 240 public sector loans, grants, and technical support initiatives in Uzbekistan. The accumulated disbursements from these loans in Uzbekistan reach a figure of $7.69 billion.
These funds were sourced from both standard and concessional ordinary capital resources, as well as other designated funds. ADB's existing roster of sovereign commitments in Uzbekistan encompasses 32 loans, 1 grant, and 1 sovereign guarantee, collectively valued at $5.06 billion.