ADB provides loan for US$220m to Uzbekistan

Tashkent, Uzbekistan (UzDaily.uz) -- The Asian Development Bank (ADB) presented a loan for US$220 million to Uzbekistan for construction of the part of national highway in Namangan region.

The ADB loans will be used to reconstruction of roan Pungan-Namangan with extension of 75 km. The road is a part of Tashkent-Osh highway (A-373).

Within the project, it is planned to upgrade the existing two-lane section to a four-lane section with an international design.

The ADB allocated loan of Uzbekistan for 25 years with five year grace period. Uzbekistan will also direct US$45 million to project implementation.

The loan was issued within the multitranche financing programme CAREC Corridor 2 Road Investment Program II worth US$500 million. Within the multitranche financing programme, the ADB allocated US$500 million in September 2011.

The Government of Uzbekistan attracted US$1.1 billion loan of the ADB to construction of national highway. The funds were used to reconstruct Guzar-Bukhara-Nukus-Beinau (A-380) and Tashkent-Andijan (A373) roads with the extension of 450 km.