Uzbekistan borrows from Asian Development Bank for road repairs
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07 April 2022 10206
The Asian Development Bank (ADB) will provide a loan of $273.8 million for the repair of roads in the Bukhara and Surkhandarya regions. This is stated in the decision of the president of Uzbekistan «On measures for the implementation of road reconstruction projects with the participation of the Asian Development Bank».
According to the decision, the ADB board of directors approved a loan of USD 273.8 million for 24 years with a privileged period of 4 years for the implementation of the project «Development of National Highways».
Of the loans:
- 183.8 million USD for the implementation of the project on the reconstruction of the sections: 5-70 km of the “4R105 Darband-Boysun-Elbayon” road and 128-174 km of the “4R100 Manguzar-Jarkurgan-Bandikhon-Oltinsoy-Denov” road;
- $90 million - to complete the project «Reconstruction of 228-315 km (87 km) of the AZ80 road «Guzar - Bukhara - Nukus - Beyneu».
The term of the project is 6 years (2022-2027, including a four-year grace period).
The document indicates that the Highway Committee is the executive body responsible for the implementation of the project, as well as for coordinating and monitoring the targeted use of ADB loan funds. It has a project implementation team. The chairman of the committee is authorized to sign a project agreement with ADB as part of the project.
Repayment of ADB loan, as well as payment of, commissions and other payments on it will be made at the expense of the republican budget of the Republic of Uzbekistan.
It should be noted that, on the annual reports of 2021, the gross foreign debt of Uzbekistan for the first time exceeded 40 billion dollars and amounted to 41.6 billion dollars.
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