Baku, Azerbaijan, Oct. 23
By Rashid Shirinov – Trend:
Since the start of the World Bank’s operations in Central Asia, the bank provided $17.5 billion in loans to the countries of the region, the World Bank told Trend on October 23.
More than half of the amount – $9.7 billion – accounted for the loans provided for Kazakhstan.
The World Bank noted that since the beginning of 2018, it provided financing to 13 projects in Central Asia: five in Uzbekistan, four in Kyrgyzstan, two in Tajikistan, and two more transnational projects.
The financing to this year projects in Uzbekistan totaled $1.440 billion, in Kyrgyzstan – $80 million, and in Tajikistan – $3.2 million.
For Kyrgyzstan and Tajikistan the financing was provided at a concessional basis through both credits and in some cases grants.
The World Bank is an international financial institution that provides loans to countries of the world for capital projects. It comprises two institutions: the International Bank for Reconstruction and Development, and the International Development Association.
Today the World Bank’s work touches nearly every sector that is important to fighting poverty, supporting economic growth, and ensuring sustainable gains in the quality of people’s lives in developing countries.