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 that Uzbekistan plans to attract soft loan of the ADB for development of rural housing development for US$500 million.

At the same time, he said that Uzbekistan plans to attract US$200 million from the resources in 2011.

According to the ADB, the project comprises a series of financial intermediation loans, to help finance housing loans for lower to middle income borrowers. Young families and first time homeowners, teachers and health care workers (two occupations in which women predominate) will be prioritized.

It is expected that the ADB will issue loans in four tranches. The first tranche for US$200 million will be issued in 2011, while other part will be allocated till 2015. The resources will be re-financed through Qishloq Qurilish Bank.

He said that capital investments for about 430 billion soums were directed to this purpose, of which 250 billion soums were long-term preferential loans. Islam Karimov said that it is nine times up compared to 2009. Since the launch of programme at new blocks, about 165 social and market infrastructure objects were constructed.

Uzbekistan plans to construct 7,400 houses in 357 blocks, as well as objects of social purpose and municipal economy in 2011.

Some 6,800 houses, based on standard projects, have been constructed in all 159 rural areas of Uzbekistan in 2010.