Uzbekistan to use a Turkish bank loan for housing construction

Almaty. October 26. Silkroadnews – Uzbekistan plans using a $200 million loan from the Turkish state bank Ziraat, according to the Uzbek Telegraph Agency (UzTAG) referring to the resolution the Uzbek president signed recently by.
According to the document, the funds are planned to be received in two tranches, $100 million each, in 2018 and 2019, to be then allocated to build multi-apartment houses across the country.
“In total, the republic expects to receive over $1 billion from international creditors for various projects for the construction of standard housing. For example, it is planned that the Asian Development Bank (ADB) will provide $700 million, the Islamic Development Bank (IDB) - $300 million, the Kuwaiti Fund for Arab Economic Development (KFAER) - $530 million, the Saudi Development Fund (SFR) - $50 million,” the document said.
As a result, up to the end of 2020 in the country it is planned to build more than one thousand high-rise apartment buildings with 43,4 thousand apartments.