The Asian Development Bank (ADB) has approved a $500mn policy-based loan to support Uzbekistan’s ongoing economic reforms and global integration efforts. The Economic Management Improvement Program (Phase 2) aims to strengthen public sector efficiency, advance economic governance, and accelerate the country’s participation in the global economy.
Building on previous reform initiatives, the program introduces a new generation of institutional measures to enhance fiscal transparency, modernize state-owned enterprise (SOE) governance, and foster a more competitive, inclusive, and resilient economic environment. These reforms align with international standards and underscore Uzbekistan’s commitment to deepening its market-based transformation.
“This program reflects Uzbekistan’s strong commitment to institutional reform, inclusive growth, and global integration,” said Kanokpan Lao-Araya, ADB Country Director for Uzbekistan. “As a strategic partner, ADB stands firmly with the government in its pursuit of economic modernization. We remain committed to supporting reforms that unlock the country’s full potential as Uzbekistan moves toward World Trade Organization (WTO) accession and deeper global engagement.”
Key reforms under the program include:
- Adoption of unified regulations for public investment in public–private partnerships.
- Enactment of legislation to enhance competition and investment governance.
- Modernization of SOE governance through improved board structures, gender representation targets, and mandatory adoption of international financial reporting standards.
- Expansion of the tax base and strengthening of international tax cooperation.
- Advancement of anticorruption measures through conflict of interest legislation and modernized audit systems.
- Alignment of national laws with global trade and investment norms to support WTO accession.
The program also addresses social dimensions, aiming to strengthen social protection systems and mitigate the impact of economic restructuring on vulnerable groups, ensuring that the benefits of reform are inclusive and support long-term social cohesion.
This year marks 30 years of partnership between ADB and Uzbekistan. Since joining ADB in 1995, Uzbekistan has received public sector loans, grants, and technical assistance totaling $14.6bn.
ADB, founded in 1966 and owned by 69 members—including 50 from the Asia-Pacific region—is a leading multilateral development bank committed to inclusive, resilient, and sustainable growth. The bank works with governments and partners across the region to address complex challenges, build quality infrastructure, and promote environmental sustainability.
