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NEW DEALS BRING IN NEW PROSPECTS

The outcome of the three-day visit by the ADB President Takehiko Nakao to Uzbekistan was the conclusion of loan agreements worth 573 million US dollars.

The Asian Development Bank may consider providing additional funds following further discussions with the Uzbek government.

A pretty eventful program of the visit included meetings with the First Deputy Chairman of the Senate Sadik Safayev, First Deputy Prime Minister Achilbay Ramatov, Deputy Prime Minister Rustam Azimov, Finance Minister and ADB administrator fr om Uzbekistan Batyr Khodjaev and other officials. Takehiko Nakao also traveled to Samarkand, Bukhara and Tashkent regions, wh ere he was presented with the outcomes of investment projects implemented with the participation of the Asian Development Bank.

The main point of the visit itinerary was negotiations with the President of our country Shavkat Mirziyoyev, during which the guest expressed confidence in the economic prospects of Uzbekistan and stressed the ADB's willingness to support the nation’s efforts to move forward.

The head of the bank highly appreciated the recently adopted Actions Strategy for the development of Uzbekistan, whose goal is to catalyze economic growth and create jobs throughout the country in the next five years. According to ADB President, under the government's strategy, the bank plans to provide $ 2.6 billion in sovereign loans in the period 2017-2019 to continue the development of infrastructure in energy industry, transport, utilities, step up support for housing construction in rural areas, and improve access to financial resources to small businesses and agribusiness.

The visit has resulted in loan agreements for four projects worth $ 573 million

Out of the total sum, $ 100 million is for a project to fund small business, envisaged to enhance access to financial resources for small businesses in rural areas and women entrepreneurs.

$ 121 million is assigned for a project “Water Supply System Development Project in Tashkent Region”, which will have effect on the quality of life of locals.

$ 154 million is designated for a project to create a chain of value adding in the fruit and vegetable sector, which will help modernize and craft intensive horticulture sites, modern and efficient greenhouse facilities and those for processing and storing products throughout the country.

$ 198 million is to be directed to road development project in Kashkadarya region, within which 77 km of provincial roads will be restored and modernized.

The government of Uzbekistan and the ADB agreed to step up joint actions to improve the quality of project development and accelerate their implementation, including procurement procedures on bоth sides.
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