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Finance
24/10/2013
ADB issues loan for US$200m to housing construction in Uzbekistan
ADB issues loan for US$200m to housing construction in Uzbekistan
Tashkent, Uzbekistan (UzDaily.com) --
The Board of Directors of the Asian Development Bank (ADB) approved allocation of loan for US$200 million to support individual housing construction in rural areas of Uzbekistan.
The loan was issued within the Housing for Integrated Rural Development Improvement Program for US$500 million.
The ADB approved the programme in August 2011. In September 2011, the bank issued the first tranche for US$200 million. On 1 October 2013, the bank approved the second tranche for US$200 million.
The ADB will issue loans in four tranches within the programme in 2011-2015. The loans are issued from ordinary resources of the bank.
Uzbekistan plans to invest US$2.2 billion to development of rural housing construction in rural areas till 2015.
By the end of 2015, it is planned to construct 41,400 houses on standard projects with total areas of about 6 million square meters.
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