IDB issues US$167.2m to construction of roads in Uzbekistan
Tashkent, Uzbekistan (UzDaily.com) --
The Board of Executive Directors of the Islamic Development Bank (IDB) approved financing for new development project of the Government of Uzbekistan for US$167.2 million.
According to the IBR, the funds were issued for reconstruction and upgrading of M39 road in Surkhandarya region of Uzbekistan.
The IDB presented a loan for 20 years with four-year grace period under Istisna’a. This mode is applied in the financing of manufacturing of goods and equipment, as well as in the financing of construction works.
The funds will be directed at reconstruction of three areas of Bukhara-Karshi-Guzar-Termez (M39) road with extension of 100 km. Within the project, it is planned to replace two line asphalt coverage with four line cement-concrete coverage.
In May 2009, President of Uzbekistan Islam Karimov approved a programme on construction of national roads of the first category in 2009-2014. The programme cost is US$2.6 billion.
Within the programme, it is planned to construct four areas of roads on route Beinau-Kungrad-Bukhara-Samarkand-Tashkent-Andijan, Bukhara-Alat, Bukhara-Karshi-Guzar-Termez and Samarkand-Guzar with total extension of 1,501 km.
Within the programme, it is planned to construct 400 km four line cement-concrete roads and 813 km four line asphalt roads, as well as 288 km two-line asphalt roads. The programme envisages construction of 7 transport road junctions and 1,488 km bridges and underpasses.
Uzbekistan became full-fledged member of the IDB since 2003, which unites 56 countries. During its joint work, the bank issued over US$280 million to realization of 19 projects in agriculture, small and private businesses, education and medicine.