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ADB To Provide $2 Billion As Financial Assistance To Uzbekistan

Thursday, February 16, 2017 - 21:00

In late February – early March 2017, the ADB (Asian Development Bank) President Takehiko Nakao intends to pay a visit to Uzbekistan to address a number of issues related to the bank's cooperation with the republic's authorities. As reported by a number of media, on February 13, First Deputy Chairman of the upper house of the Uzbek parliament (Senate) Sadiq Safayev discussed details of the forthcoming visit with Deputy General Director of the Department of Western and Central Asia of the ADB Hong Wei.

 

In the course of the negotiations in the Senate, Wei stressed the importance of “continuing to strengthen the bilateral relations in all areas, as well as implementing joint projects to support Uzbekistan through the ADB's strategic programs for modernization, development and structural transformation of various industries and the national infrastructure.”

 

According to the materials published on the official website of the ADB, the bank intends to provide Uzbekistan with credit funds in the amount of about $2.1 billion in 2017-2019. The bulk of the allocated credit funds ($1.1 billion) will be spent on modernization of the energy sector of Uzbekistan; primarily, on reconstruction of the power transmission lines, and thermal and hydro power plants.

 

Since 1995, the ADB has provided Uzbekistan with a total of about $5.1 billion, which were spent on implementation of 54 projects related to the fields of agriculture, education, modernization of the energy sector and transport infrastructure. In addition, approximately $65 million have been allocated in the form of grants for technical assistance.

 

Earlier, the ADB press service reported that the Asian Development Bank has decided to allocate $100 million for construction of a 100 MW solar power plant in the southern part of Uzbekistan.



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http://easttime.info/news/uzbekistan/adb-provide-2-billion-financial-assistance-uzbekistan