Uzbekistan plans to attract another $200 million from ADB to implement reforms in the electricity sector

The draft resolution of the Cabinet of Ministers on attracting a $200-million loan from the Asian Development Bank to support the state budget in the implementation of reforms in the energy sector has been announced.

The followings have been noted:

• In accordance with the Resolution No. 260 of the Cabinet of Ministers “On measures to accelerate the introduction of automated systems of accounting and control of electricity” dated April 27, 2020, to support the budget of the Republic of Uzbekistan in the implementation of reforms in the energy sector, it is planned to attract a loan from the Asian Development Bank (ADB) in the amount of $200 million (Policy Based Loan);
• On July 28, 2020, the Ministry of Finance, the Ministry of Investments and Foreign Trade, the Ministry of Energy and the ADB signed a Memorandum of Understanding on attracting a state target loan in the amount of $200 million;
• Based on the negotiations, held on August 14, 2020, the ADB Board of Directors will consider on September 28, 2020, the issue of allocating a $200-million loan (Policy Based Loan), with a repayment period of 15 years, including a 3-year grace period, to support the budget of Uzbekistan in the implementation of reforms in the energy sector.