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Finance 08/06/2011 Uzbekistan, IFIs implement projects for US$3.846bn
Uzbekistan, IFIs implement projects for US$3.846bn
Tashkent, Uzbekistan (UzDaily.com) -- Total number of projects, realized in Uzbekistan in cooperation with the international financial institutions (IFIs), made up 198. Total sum of projects exceeds US$3.864 billion, a head of main department on issues of structural reforms of economy and formation of investment projects of Ministry of Economy of Uzbekistan Dilshod Azimov said Wednesday, 8 June.

He said that 153 of them with the volume of US$1.45 billion were implemented. He added that Uzbekistan implements 45 projects with the World Bank (WB), the Asian Development Bank (ADB) and Islamic Development Bank (IDB) for US$2.4 billion.

According to the Ministry of Economy, Uzbekistan realizes projects for US$2.083 billion with the ADB, of which US$597.32 million were realized and US$1.486 billion are under implementation.

In cooperation with the World Bank, Uzbekistan implements projects for US$1.313 billion, of which US$677.98 billion fell to share of implemented projects and US$635.4 million to projects under implementation.

IDB participated in projects for US$467.09 million. The sides completed projects for US$174.1 million and implement projects for US$292.99 million.

Dilshod Azimov said that loans and investments of above mentioned IFIs were directed to implement strategically important investment projects in healthcare, education, construction and equipment of academic lyceums and professional colleges, improvement of infrastructure of water supply and communal economy in regions of Uzbekistan, reconstruction and modernization of energy sector, and others.

Due to loans of the ADB, WB and IDB, Uzbekistan fully reconstructed drinking water supply systems of such cities as Bukhara, Samarkand, Gulistan, Jizzakh, Qarshi, Urgench, regions of Karakalpakstan, and others.

He also recalled that Uzbekistan and the ADB signed agreement on attracting loans for US$600 million to construction of 222 km of roads with cement concrete pavement, which is part of Uzbekistan national highway.

Azimov underlined that Uzbekistan is also planning to attract soft loan of the ADB for development of rural housing development for US$500 million, of which US$200 million will be attracted this year.

Representative of Ministry of Economy also outlined main directions of cooperation with the IFIs in the future. He said that, first, it is partnership in implementation of important programmes of Uzbekistan on structural reforms and diversification of economy, directed at deep processing natural resources, mineral, hydrocarbon and agriculture raw materials with increasing share of high technologic and competitive products in exports.

Second, he said, it is support and further development of private business and non-state sector of economy.

Third direction is to develop cooperation in further reforming and strengthening material base of agriculture sector and related industries, Azimov said.

Dilshod Azimov said that the fourth direction is to support development of social sector, strengthening modern base of education system and healthcare. Fifth is active participation in development financial-banking system, providing credit lines for commercial banks.

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