BAKU, Azerbaijan, July 10
By Ilkin Seyfaddini - Trend:
The Government of Uzbekistan approved the implementation of the project on financing the urban development in Uzbekistan with the participation of the Asian Development Bank (ADB), Trend reports with reference to information-legal portal Norma.uz.
The project envisages preparation of such projects as reconstruction and construction of drinking water supply and sewerage systems in cities and districts of Tashkent region (third phase of the project), the program of development of drinking water supply and sewerage and the program of complex development of cities.
The loan agreement on the project worth $15 million for 25 years with five-year grace period was signed on 13 November 2019. The total cost of the project is $16.7 million.
The loan of ADB is amounted to $15 million and $1.7 million is a contribution of Uzbekistan (at the expense of tax privileges). The project implementation period is from 2020 through 2023.
ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members - 49 from the region.
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