TASHKENT, Uzbekistan, March 30. Uzbekistan will allocate $52.4 million for the restoration of forest landscapes in the country, Trend reports.
This is reflected in the decree signed by President of Uzbekistan Shavkat Mirziyoyev "on measures on implementation of the Restoration of Sustainable Forest Landscapes in Uzbekistan project" with the participation of the International Development Association.
According to the document, the total cost of the project is $205.4 million. The International Development Association will provide $142 million in loans for a period of 30 years, including a five-year grace period. In addition, the Progreen Trust Fund and the Korean KWPF Fund will provide grants worth $11 million.
The project implementation period is 6 years (from 2023 through 2028).
The Ministry of Ecology, Environmental Protection, and Climate Change and the Forestry Agency are the executive bodies responsible for the timely and full implementation, coordination, and management of the project, as well as the as well as the targeted and effective use of borrowed funds and grants.
Uzbekistan approved the technical and economic parameters of the project; an estimated schedule of use and repayment of borrowed funds from the International Development Association; payment of commission and interest within the framework of the project; a road map on project implementation; and plans of measures to be implemented in Jizzakh, Namangan, Kashkadarya, Samarkand, Syrdarya, and Surkhandarya regions within the framework of the project.
Meanwhile, a total of 352.1 trillion soums ($28.4 billion) was invested in Uzbekistan in 2023, which amounted to 122.1 percent year-on-year.
