Uzbekistan gets about 1-bln-USD World Bank loan for strategic reforms

The World Bank has approved a financial support package to Uzbekistan comprised of 470-million-U.S.-dollar highly concessional loans and 480-million-U.S.-dollar low-cost loans, the lender’s office in Tashkent said on Saturday, APA reports citing Xinhua.

The financing will support “an inclusive transition to a private-sector-led economy by strengthening market institutions and ensuring all citizens take part in the benefits of economic growth” in Uzbekistan, it said.

These funds will be provided by the World Bank’s two sovereign lending institutions — the International Development Association and the International Bank for Reconstruction and Development.

The financing will support reforms to establish a new National Social Protection Strategy, and expand publicly funded maternity benefits to private sector employees, according to the bank.

Related posts

Ambassador of Kyrgyzstan and President of the Senate of Pakistan discussed cooperation opportunities

Ambassador of Kyrgyzstan discusses possible cooperation with forestry enterprises in Belarus

President Japarov met with the Chairman of the Standing Committee of the Chinese People’s Congress in Beijing