To fortify Uzbekistan's rural and urban infrastructure, the World Bank has teamed up with the Asian Infrastructure Investment Bank (AIIB) to finance key development projects in the country, Tatiana Proskuryakova, the World Bank Regional Director for Central Asia shared on LinkedIn. The partnership aims to address critical infrastructure needs, particularly in remote villages and medium-sized cities, fostering sustainable growth and improved living standards.
The collaboration between the World Bank and AIIB involves co-financing several initiatives initiated by the Uzbekistan government. Among these endeavors is the Rural Infrastructure Development Project, with a substantial investment totaling $183.6mn. This project is geared towards bolstering basic infrastructure across more than 300 remote villages, enhancing connectivity, and providing essential services to rural communities.
In addition to the rural development project, the joint effort also supports the implementation of the Medium-Size Cities Integrated Urban Development Project, with an investment of $200mn. This initiative focuses on enhancing infrastructure and municipal services in cities located within the Kashkadarya and Surkhandarya regions of Uzbekistan. By improving urban infrastructure, the project aims to enhance the quality of life for residents and spur economic growth in these areas.
Tatiana Proskuryakova highlighted the importance of collaboration during the Tashkent International Investment Forum. She underscored the positive strides made in ongoing joint operations in Uzbekistan and broader Central Asia, emphasizing the mutual commitment to advancing development in the region. Proskuryakova also discussed plans to expand cooperation between the World Bank and AIIB in Uzbekistan in the near future, signaling a continued commitment to supporting the country's development agenda.
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