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ADB provides loan for US$220m to Uzbekistan
Tashkent, Uzbekistan (UzDaily.com) --
The Asian Development Bank (ADB) presented a loan for US$220 million to Uzbekistan for construction of the part of national highway in Namangan region.
The ADB loans will be used to reconstruction of roan Pungan-Namangan with extension of 75 km. The road is a part of Tashkent-Osh highway (A-373).
Within the project, it is planned to upgrade the existing two-lane section to a four-lane section with an international design.
The ADB allocated loan of Uzbekistan for 25 years with five year grace period. Uzbekistan will also direct US$45 million to project implementation.
The loan was issued within the multitranche financing programme CAREC Corridor 2 Road Investment Program II worth US$500 million. Within the multitranche financing programme, the ADB allocated US$500 million in September 2011.
The Government of Uzbekistan attracted US$1.1 billion loan of the ADB to construction of national highway. The funds were used to reconstruct Guzar-Bukhara-Nukus-Beinau (A-380) and Tashkent-Andijan (A373) roads with the extension of 450 km.
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