Uzbekistan borrows $296 million from World Bank

Uzbekistan signed 4 agreements with the World Bank in the amount of $296 million. Deputy PM Jamshid Kuchkarov announced this on his Twitter page.

Loan agreements worth $143 million were signed with the World Bank for the improvement of energy efficiency in social facilities in Uzbekistan, and $142 million for the project of sustainable forestry and restoration of forest landscapes.

“Also, 2 more grant agreements worth 8 million and $3 million were signed for financing events and consulting services within the framework of the second project.

These agreements serve to achieve widespread use of green energy and an ecologically clean environment in our country,” Jamshid Kuchkarov said. 

A loan agreement worth $143 million was signed within the framework of the project “Clean energy for buildings of Uzbekistan” to increase energy efficiency in social facilities.

At the beginning of April, the presidential decision on measures to implement the project “Clean energy for buildings of Uzbekistan” with the participation of the World Bank was signed.

In the document, the WB provided a loan of $143 million to Uzbekistan for the implementation of the project.

Thus, these loan funds were allocated to Uzbekistan for a period of 30 years, including a 5-year grace period.

Within the framework of the project, it is planned to modernize more than 800 institutions in the fields of preschool, school and healthcare.

In addition, the project includes building materials (heat insulation materials, pipes, door and window frames) and equipment (renewable energy sources devices, heating system, heating boilers, etc.);  construction and assembly works, as well as energy audit services.

According to the Ministry of Economy and Finance, the “Development of Rural Infrastructure” project was also discussed at the meeting with the World Bank delegation.

According to the presidential decision adopted in 2020, within the framework of this project, a number of works are being carried out in Fergana, Andijan, Namangan, Jizzakh and Syrdarya regions.

In particular, during 2020-2024, it is planned to update the basic infrastructure and social sphere facilities in 306 mahallas in 21 districts of these 5 regions, thereby improving the living standards of about 1.3 million people. $183.6 million is being allocated for these purposes.