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The American-Uzbekistan Chamber of Commerce (AUCC) seeks to promote trade and investment ties, cultural exchanges and bonds of friendship between the United States of America and the Republic of Uzbekistan. In performing these functions, the AUCC places primary emphasis on serving the needs and interests of its members.
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WB to allocate $200M to Uzbekistan for reconstruction of roads
The Board of Directors of the World Bank (WB) approved the allocation of a loan to Uzbekistan in the amount of $ 200 million to implement the project of reconstructing local roads last week, the WB representative office in Tashkent told Trend.
The project worth $ 240 million envisages the overhaul of 10 sections of local roads with a total length of 90 kilometers in Tashkent region at the first stage, a representative of the office said. The second stage envisages the similar work in three areas of the Fergana Valley - Andijan, Namangan and Ferghana.
The project implementation period is four years.
The funds will be allocated from the International Development Association’s funds (IDA, the WB structural unit) in the form of an interest-free loan for 35 years, including a 10-year grace period with payment of fees.
At present, the total length of roads is about 150,000 kilometers in Uzbekistan. Some 45,000 kilometers of them account for main highways, including 3,200 kilometers – highways of international importance and 18,800 kilometers – highways of national importance.
As many as 20 international transport routes run through Uzbekistan.
Annually, 220 kilometers of roads are laid and reconstructed and 400-450 kilometers are overhauled in Uzbekistan.
Uzbekistan became a member of the World Bank in 1992. In total, the WB allocated around $2 billion worth loans to Uzbekistan for implementing projects in the field of privatization, financial sector development, modernization of agriculture, electricity sphere, improving social infrastructure, health and education.
WB intends to allocate a total of $1.3 billion to Uzbekistan to implement 15 investment projects in the sphere of energy, transport, melioration, petrochemistry, textile industry, processing of agricultural products and increasing the quality of medical services in 2012-2015 in accordance with the WB partnership strategy with Uzbekistan.
Currently, the total volume of the bank’s current liabilities in Uzbekistan exceeds $1 billion.
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