Asian Development Bank allocated 500 million dollars to Uzbekistan

The Asian Development Bank has approved a loan of 500 million dollars to Uzbekistan's economy. This was reported by Zamin.uz.

This funding will be provided within the framework of the second phase of the "Economic Governance Improvement Program." The program is aimed at modernizing the management of state enterprises, increasing fiscal transparency, and creating a competitive economic environment, serving as a continuous extension of the ongoing reforms.

According to Kanokpan Lao-Araya, director of the ADB's Uzbekistan office, the bank is committed to assisting the country in joining the World Trade Organization and actively participating in the global economy. Within the program, it is planned to introduce unified procedures in public-private partnerships, adopt new laws on competition and investment management, manage state enterprises based on international standards, expand the tax base and develop international tax cooperation, as well as improve legislation on combating corruption and preventing conflicts of interest.

Additionally, the program envisages strengthening the social protection system. This aims to mitigate the impact of reforms on vulnerable segments of the population.

For reference, this year marks 30 years of cooperation between Uzbekistan and the Asian Development Bank. Since 1995, the bank has provided a total of 14.6 billion dollars in assistance to the country.

In a report published on September 30, the ADB stated that there are no changes in Uzbekistan's economic growth forecast. According to the bank's estimates, economic growth will be 6.6 percent in 2025 and 6.7 percent in 2026.

These indicators reflect the stable development of the country's economy.