ADB allocates large investment funds to Uzbekistan

The Asian Development Bank will allocate $2.8 billion to Uzbekistan by the end of 2024. Among them there is an Agreement for $650 million, which will be signed before the end of this year, reports

This became known following online talks between Deputy Prime Minister, Minister of Investment and Foreign Trade of Uzbekistan Jamshid Khodjaev and ADB Vice President for Administration and Corporate Governance Bruce Gosper.

The parties discussed the current state and prospects for expanding bilateral cooperation between Uzbekistan and ADB.

ADB emphasized the broad opportunities for expanding the attraction of private and foreign investment in various sectors of the economy of Uzbekistan. The current investment portfolio consists of 24 projects in the field of infrastructure construction, energy, housing and communal services, healthcare, and agriculture in the amount of $3.7 billion.

As part of the business plan for ADB country operations for 2022-2024, an agreement was reached on the joint implementation of 27 projects worth $2.8 billion.

This year, an agreement has already been signed on 1 investment project worth $274 million and negotiations have been completed on 2 projects aimed at developing the mortgage market sector and supporting the budget for a total of $650 million. An agreement was reached to take measures to sign agreements on these projects until the end current year.

Following the meeting, the parties expressed mutual commitment to the consistent continuation of cooperation within the framework of existing and new areas of interaction.

Uzbekistan is a reliable partner of ADB. The country’s economy is developing at a good pace. According to forecasts, economic growth in 2022 will be approximately 3.8%.

Sept. 20, 2022