Baku, Azerbaijan, July 31
By Fakhri Vakilov - Trend:
Uzbekistan will allocate more than $124.1 million for the integrated development of medium-sized cities, Trend reports with reference to Uzbek media.
The President of Uzbekistan signed a decree with a view to comprehensively improve and increase the efficiency of urban infrastructure management, ensure the availability of service to the population of medium-sized cities. The documents also provides for capacity building with the participation of the International Bank for Reconstruction and Development (IBRD).
The decree notes that the Board of Directors of the World Bank on December 18, 2018 approved a loan to IBRD in the amount of $100 million for the implementation of this project. The loan is granted with a maturity of 30 years, including a five-year grace period.
The contribution of Uzbekistan will amount to $24.12 million (in the form of tax and customs benefits, as well as the coverage of the costs of resettlement).
The pilot cities within the project are Yangiyul (Tashkent region), Kagan (Bukhara region) and Chartak (Namangan region).
The executive body responsible for the timely implementation of the project, as well as the targeted and effective use of the IBRD loan, is the Ministry of Investment and Foreign Trade of Uzbekistan. The overall coordination and implementation of the project is carried out by the Ministry of Investment and Foreign Trade of Uzbekistan and the Agency for Urbanization under the Ministry of Economy and Industry.
Expenses related to the repayment of the IBRD loan, as well as the payment of interest, commissions and other expenses within the framework of the project, are reimbursed in equal shares from the State budget of Uzbekistan and local budgets of the relevant areas.
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