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    Uzbekistan

    Uzbekistan secures $260mn from Islamic Development Bank for rural modernization drive

    Uzbekistan secures $260mn from Islamic Development Bank for rural modernization drive

    In a stride towards the modernization of its rural regions, Uzbekistan has secured a substantial financial injection of $260mn from the Islamic Development Bank (IsDB). This funding, coupled with Uzbekistan's commitment, is set to propel the country into the second stage of its rural modernization program, as decreed by President Shavkat Mirziyoyev.

    $270mn contribution from IsDB set to propel Uzbekistan's rural development
    Photo: $270mn contribution from IsDB set to propel Uzbekistan's rural development
    Source: Google Images

     

    The total allocated amount for this stage stands at an impressive $293.5mn, with the share of $260mn being contributed by the IsDB, while the remaining $33.5mn will be provided by the Uzbekistan government. This collaboration signifies a concerted effort to uplift rural communities and enhance their infrastructure, thereby fostering sustainable development across the nation.

    Spanning the period from 2024 to 2028, the second stage of implementation will have an impact on 157 mahallas across 21 districts in the Surkhandarya, Samarkand, and Kashkadarya regions. Of the allocated funds, $260mn will be dedicated to rural infrastructure development, $15.9mn will be allocated for advisory services, and $2.5mn will be earmarked for project support, with an additional $15mn held in reserve for unforeseen circumstances.

    One notable aspect of this initiative is the provision of customs benefits for project participants, underscoring the government's commitment to facilitating and incentivizing investments in rural development.

    Photo: 157 mahallas across 21 districts to benefit from $293.5mn rural modernization fund
    Source: Google Images

     

    The scope of the project encompasses a wide array of essential amenities and infrastructure. Among the highlights is the construction of 20 schools, predominantly in Samarkand, along with 14 kindergartens and 10 family doctor offices, all contributing to the advancement of education and healthcare services in these regions. 

    Additionally, investments will be made in vital utilities, including the development of 200 km of drinking water facilities, 368 km of electrical networks, 330 km of roads, and the installation of 53 transformers, crucial for powering rural communities.

    This latest injection of funds follows an agreement signed in April 2023 between the IsDB and Uzbekistan, which saw $136.7mn allocated for the modernization of a section of the M39 road and the enhancement of preschool education facilities nationwide.

     

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    01.04.2024, 13:54   Comments (0)   1557
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