ADB to allocate $300 million to support economic reforms in Uzbekistan

Beijing. June 27. Silkroadnews - The Board of Directors of the Asian Development Bank (ADB) approved a $300 million loan to improve the economic management in Uzbekistan, the Uzbek Telegraph Agency (UzTAG) reports referring to the statement the representative of the ADB office made on June 26.
The new loan is aimed to ensure macroeconomic stability and high level of economic growth in the country.
The project plans to improve access to bank financing by strengthening banking supervision and financial intermediation to organize competitive financing for financial sector operations.
In addition to the loan, ADB will also provide technical assistance of $1 million to strengthen the government’s capacity to implement the reforms.
The World Bank will also provide $500 million to co-finance the program.