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NEWS

ADB to assist Uzbekistan in improving economic governance

en.trend.az
28 July 2018

The Asian Development Bank (ADB) will provide Uzbekistan with a $300-million loan to help improve economic governance in the republic, the ADB stated.

The agreement, signed with the government of Uzbekistan, will contribute to ensuring macroeconomic stability and high level of economic growth in the country.

The Economic Management Improvement Program was approved by ADB's Board of Directors on June 26, 2018 and aims to support the government's efforts to ensure financial sustainability, as well as to improve the administration of state-owned enterprises that dominate almost all key sectors of Uzbekistan's economy and ensure their more financially efficient operations.

In addition to the loan, ADB will also provide technical assistance to Uzbekistan in the amount of $1 million to strengthen the government's capacity to implement reforms, in particular, budget mechanisms, public-private partnerships, internal audit, risk-based supervision and capital adequacy assessment, sensitivity of the public expenditure program.

Earlier, ADB approved allocation to Uzbekistan of a $145-million loan to improve water supply and sanitation services in Karakalpakstan in the north-western part of Uzbekistan.

The project will cover about 388,000 residents, half of whom are women and children.

Modernization of water supply and sanitation systems will improve quality of life of people, in particular 178,000 women and children, who will have access to uninterrupted centralized water supply.