Uzbekistan receives a $10 million loan for PPP project development fund

The President approved the creation of a Fund for Development of Public-Private Partnership Projects. The corresponding resolution was published in the Lex.uz database.

The fund is established by the Ministry of Economy and Finance jointly with the European Bank for Reconstruction and Development. It will allocate funds to attract consultants to prepare the concept, financial model, assessment, and tender documentation for PPP projects.

The fund will pay for the services of consultants with a total value of more than $10 million. The costs for this are planned to be reimbursed by private partners selected based on the tender results.

The Ministry of Economy and Finance and other departments annually, before November 1, will have to prepare a list of PPP projects, the services of consultants for which will be paid for by the fund. No later than December 1, the Cabinet of Ministers will have to approve it.

The EBRD will form a fund management team. It will provide the foundation with $10 million in loans and will attract another $10 million in grants from other donors.

The loan for organizing the fund’s activities is allocated at the Euribor rate plus 1% on top. It is planned to return it in 12 years, of which the first 4 years are a grace period.