The Islamic Development Bank (IDB) and the OPEC Fund for International Development are set to help Uzbekistan with the development of rural settlements and allocate loans worth $200 million and $75 million, respectively.
According to a recent decree inked by President Shavkat Mirziyoyev, Uzbekistan’s contribution to projects in rural areas would comprise $60 million.
Projects will aim at updating the architectural appearance of rural settlements, integrated development of regions, construction of road transport infrastructure, engineering and communication networks and social facilities.
International loans are provided for a period of 20 years, including a 5-year grace period.
The projects will cover 20 districts of Karakalpakstan, Bukhara, Navoi and Khorezm regions.
The Ministry of Economic Development has been designated as the executive body responsible for the timely implementation and coordination of projects, as well as the targeted and effective use of the IDB and OPEC loans. (Trend/Business World Magazine)