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Asian Development bank grants $500 million loan to Uzbekistan

February 17, 2012, 11:35 UTC+3

The Asian Development Bank (ADB) granted Uzbekistan four loans amounting to 508 million US dollars

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TASHKENT, February 17 (Itar-Tass) — The Asian Development Bank (ADB) granted Uzbekistan four loans amounting to 508 million US dollars. The relative agreement was signed in the republic’s capital by ADB President Haruhiko Kuroda and Uzbek First Deputy Prime Minister and Finance Minister Rustam Azimov.

The local media report on Friday that the signed loan agreements are for electrification of railways on the· Samarkand-Karshi section in the amount of 100 million dollars, as well as for the development of housing construction in rural areas amounting to 200 million dollars.

A sum of 58 million dollars is provided for the improvement of water supply services in Andijan, the Zafarabad and Arnasai districts of the Jizzakh region and rural settlement of Karakalpakstan in the Khorezm region.

The agreement envisages a sum of 150 million dollars for the introduction of an automated system of electricity control and metering.

Kuroda was received by President of Uzbekistan Islam Karimov, who called the bilateral cooperation “constructive,” to which testifies the bank’s approval of “35 joint projects totalling more than 8.6 billion US dollars with the ADB financing share more than 3.8 billion dollars.”

Karimov said that the level of bilateral relations “is dynamic and has a wide range of cooperation spheres.” “The annual growth of ADB operations in Uzbekistan in recent years has reached one billion dollars,” the president stated.



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