The World Bank’s Board of Executive Directors has approved a financial package of $800 million in highly concessional loans to support the Uzbek government’s structural reform program, which aims to improve Uzbekistan’s business environment, boost efficiency in agriculture, railways, and energy sectors, enhance public finance management, expand social protection services, and strengthen the country’s preparedness for environmental and climate change risks.
The World Bank said the financing offers the government low-cost, long-term repayment options that are more favorable than those available in international financial markets. This will allow Uzbekistan to benefit from lower loan repayment costs, freeing up more budget resources for its social and economic priorities.
The financing supports the government’s development policy program, which is taking actions across the following areas: the social protection system, combating gender-based violence, land security for farmers, business environment, public finance management, tackling climate change, water resource management, environmental and climate assessment, climate-sensitive investment, the railway and energy sectors.
