The World Bank's Board of Directors approved a financial package worth $800 million in the form of concessional loans to support the reform program in Uzbekistan, the organization's press service reported.
It is reported that the reforms are aimed at accelerating the country's transition to an inclusive and sustainable market economy.
- The government's structural reform program supported by the World Bank includes measures to improve the business environment, increase efficiency in agriculture, railways, and energy sectors, enhance public finance management, expand access to social protection services for the population, and increase the country's preparedness for environmental protection against risks and climate change, the report says.
The funds will be provided to the government of Uzbekistan at lower interest rates and with longer repayment periods compared to those available in the international financial markets.
It is clarified that this will help Uzbekistan save significant financial resources, which can be used to solve pressing socio-economic problems.
