The World Bank’s Board of Executive Directors has approved the provision of $400 million in financing to Uzbekistan as part of the Development Policy Operation (DPO), the WB press service has reported. The purpose of the operation is to help the government implement socio-economic reforms that will help accelerate the country’s transition to an inclusive and competitive market economy.
The OPPR will provide Uzbekistan with a concessional loan with a low-interest rate of $250 million and maturity over 30 years, as well as a loan of $150 million with a market interest rate and maturity over 12 years.
The financial and technical assistance provided to Uzbekistan is expected to enable the government to implement a number of reforms. These include liberalizing the wheat market, improving the management of public enterprises, strengthening accountability and oversight of public spending and debt, tackling gender discrimination in the labor market, expanding benefit coverage for the poor and expanding social protection and economic opportunities for women and people with disabilities.
The development of the new partnership program is expected to be completed by the middle of next year. It will be closely linked to the new national strategy for socio-economic development, which the government plans to implement over the next five years.
Currently, the WB, as part of the development of a new partnership program with Uzbekistan, is holding consultations with the government, civil society, and the private sector, the report said. It will outline the key areas of financial and technical assistance from the WB to Uzbekistan for 2022-2026. (Trend/Business World Magazine)
