Indorama Logo
News

News

World Bank grants Uzbekistan over $400 million

October 30th, 2014

Tashkent, Uzbekistan - The World Bank signed an agreement with the Uzbek government to grant it $261 million for modernization of the drainage system in the Karakalpak Autonomous Republic.

$242.5 million will be provided by the International Development Association and $18.3 million by the International Bank for Reconstruction and Development over 25 years (5-year beneficial period), RIA Novosti reports.

The IBRD will grant $150 million for developing gardening, buying trees, developing agricultural technologies and improving infrastructure for storage of food.

Uzbekistan has been a member of the World Bank since 1992. It has received loans worth about $1.5 billion in total for development of finances, electricity, healthcare, education, modernization of agriculture and social infrastructure.