Uzbekistan has attracted international loans worth $2.8bn by the end of 2023, Izzatbek Jurayev, the Deputy Head of the Department of the Ministry of Investment, Industry and Trade reported. This figure represents a 1.5-fold increase over the year.
The Asian Development Bank, the World Bank, and China were the major contributors, allocating $615.6mn, $552.4mn, and $398.8mn, respectively.
Sector-wise distribution
The majority of the loans from international donors were directed towards the energy sector of Uzbekistan, which received $871.8mn. This was followed by the transport infrastructure sector with $473.3mn, and the agriculture and water sector with $299.7mn. The economic sector and health care were also among the top five sectors, receiving $242.8mn and $163.1mn, respectively.
Infrastructure development
These funds were utilised for various infrastructure projects, including the construction of 300 kilometres of roads, 420 kilometres of drinking water supply networks, and 100 kilometres of sewage networks.
Future strategic priorities
The European Bank for Reconstruction and Development (EBRD) has outlined its strategic priorities for Uzbekistan for the period 2024-2029. The focus is on supporting decarbonisation, green cities, water efficiency, cleaner energy, developing the private sector, fostering employment, skills, inclusion, digital transition, promoting economic governance, and business climate improvements, and enhancing infrastructure connectivity.
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