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Asian Infrastructure Investment Bank ready to finance projects for $2.4 billion in Uzbekistan

21 January 2020

Uzbek Minister of Investments and Foreign Trade Sardor Umurzakov met Vice President of Asian Infrastructure Investment Bank Konstantin Limitovskiy to discuss relevant aspects of cooperation during implementation of infrastructure investment projects in water supply and treatment, heat supply, urban improvement, road construction, the Ministry's press service said.

It was noted at the meeting 2019 saw unprecedented growth in cooperation due to launch of major infrastructure projects in Uzbekistan.

Konstantin Limitovskiy said the Asian Infrastructure Investment Bank is set to accelerate reached agreements and to expand the portfolio of investment projects in Uzbekistan aimed at comprehensive development of infrastructure and improvement of living standards of population.

The draft of cooperation program between Uzbekistan and the Asian Infrastructure Investment Bank for 2020-2022 was considered at the meeting, including investment projects in public utilities, road construction, energy sector, construction of affordable housing, development of private sector in infrastructure for more than $2.4 billion, including such large-scale projects as modernization of infrastructure of Karakalpakstan, Bukhara and Khorezm regions, co-financing of comprehensive development of middle-sized towns together with the World Bank, co-financing of electrification of Bukhara-Urgench-Khiva railway together with the Asian Development Bank.

The agreement was reached to step up practical realization of projects.