The World Bank approved the provision of funds to Uzbekistan as part of an operation in support of development policy, the WB office in Tashkent reports. The WB has a special financial instrument that supports social and economic reforms in various countries of the world.
Assistance to Uzbekistan will be provided in the form of a financial package, which includes soft loans in the amount of $470 million and loans with a low interest rate in the amount of $480 million, $950 mln in total.
These funds are provided to support the implementation of strategic reforms aimed at building an inclusive economy focused on the private sector, developing market institutions and ensuring equal opportunities for all citizens to enjoy the benefits of economic growth.
Uzbekistan demonstrates a firm commitment to reforms, said Tatyana Proskuryakova, head of the WB's Central Asia Department.
“The current WB operation is based on our broad financial and technical assistance to Uzbekistan, provided since 2017 to build an inclusive market economy. This project will contribute to the implementation of the reform priorities outlined in the Development Strategy of Uzbekistan for the next five years,” she said.
As of December 16, 2022, the WB program in Uzbekistan includes 27 projects.
The current leadership of Uzbekistan is pursuing an open door policy and attracting foreign investment, and at the same time implementing a broad reform in all areas.
CentralasianLIGHT.org
December 19, 2022