$844 million will be directed for the investment projects implementation in Uzbekistan

Almaty. January 11. Silkroadnews - In 2016 Uzbekistan plans to invest $843.8 million from the Republican Fund for Reconstruction and Development (RFRD) to implement 27 projects included in the state investment program for next year as approved with the special decree of President Islam Karimov, “Trend” reports.
According to information at the disposal of the Agency, the number of projects within the investment program, which implementation is provided with the assistance of RFRD, includes the energy projects, oil and gas and chemical industries, metallurgy and transport infrastructure totaling to $15.992 billion.
The major stock of the funds loans for next year shall be allocated for projects in the fuel and energy complex, chemical, petrochemical and metallurgical industries totaling to $587.95 million.
At the same time for the implementation of projects in the oil and gas industry in 2016 RFRD plans to allocate $196 million, in electricity sector - $259.76 million, in the chemical industry - $127.7 million, in transport sector - $165.7 million.
Fund for Reconstruction and Development of Uzbekistan was established in 2006 to finance and co-finance projects included in the state investment program. The fund formed by extra forecasted budget revenue through excess profit taxes, royalties and excise taxes as well as income from the sales of products under the production sharing agreements (PSAs) with the foreign partners and other funding sources.
The founder of the fund is the Government of the Republic through the Ministry of Finance. At present the authorized capital of RFRD formed totals to the amount of $15 billion.
Investment program 2015 in Uzbekistan provided for allocation of 908.1 million loan fund for the implementation of 34 projects.