The World Bank’s Board of Executive Directors approved a financial package of $800 million in highly concessional loans to support Uzbekistan’s reform agenda geared towards advancing the country’s transition to an inclusive and resilient market economy.
The government’s structural reform program, backed by the World Bank, aims to improve Uzbekistan’s business environment, boost efficiency in agriculture, railways, and energy sectors, enhance public finance management, expand social protection services, and strengthen the country’s preparedness for environmental and climate change risks.
The financing, provided by the World Bank through highly concessional loans, offers the government low-cost, long-term repayment options that are more favorable than those available in international financial markets. As a result, Uzbekistan will benefit from lower loan repayment costs, freeing up more budget resources for its social and economic priorities.
