TASHKENT, Uzbekistan, May 13. Uzbekistan and the Asian Development Bank (ADB) signed a memorandum on the implementation of the program for 2025–2027, Trend reports.
Deputy Minister of Investment, Industry, and Trade Khurram Teshabaev and ADB Director General for Central and West Asia Eugene Zhukov signed the document during the 57th Annual Meeting of the ADB Board of Governors.
The document states that the program will implement a total of $3.5 billion.
The program includes projects that are of mutual interest to both parties and aligns with the Uzbekistan-2030 development strategy.
Meanwhile, the total amount of funds provided by ADB for Uzbekistan's sovereign portfolio has reached $12 billion. The bank allocated 6 loans and 1 grant for 4 sovereign projects and 2 programs in 2023.
Earlier, ADB provided assistance on a $1.5 billion project to modernize the heating system of Uzbekistan's Tashkent.
The project aims to lower carbon emissions in Uzbekistan, enhance energy efficiency, decrease water usage and leakage, and improve the quality and dependability of the country's heat supply.