The World Bank (WB) Group approved strategy of financial assistance for Uzbekistan in the period of 2008 and 2010, reserving US$ 300 million for the republic.

The strategy is the WB Group’s woThe strategy is the WB Group’s working plan on financial assistance in two or three public investment projects worth USD 90-100 million annually on land reclamation, environment protection, public services and social security. The strategy aims to support the Uzbek government’s last year state program on improving population’s welfare in Uzbekistan.

The International Development Association (IDA is in the WB Group) is to offer loans for 40 years including ten-year grace period and having annual interest rate of 0.75 %. Besides loans, the WB Group provides consultancy in project spheres.

Particularly, the WB approved strategy of offering credit of USD 67.96 million for implementing agriculture support and development project in Uzbekistan. These means will be directed to provide credit lines for agricultural enterprises to purchase necessary technologies and equipment and for carrying out irrigation and drainage works and organizing teaching innovative agro-technical methods and consultancy in running business. Besides the WB credit, Uzbekistan will allot USD 6.8 million for project implementation.

The USD 74.76 million project aims to improve productivity, financial and ecological stability, rehabilitate irrigation and drainage systems and improve management in reorganized farms and agricultural enterprises of 90 districts in seven regions of Uzbekistan.

The WB Office in Tashkent says that the new project continues the agriculture support project carried out since 2001. At that time the WB offered Uzbekistan USD 36 million of loans for a USD 43.45 million agriculture development project and implemented in five regions of the Republic.

The WB supports the government of Uzbekistan to provide structural reforms in privatization, financial development, agricultural modernization and social infrastructure improvement. Since 1995 this international finance institution has offered Uzbekistan total credits and loans worth USD 589.3 million for implementation of 13 projects. Uzbekistan joined the World Bank in 1992.

"Uzbekistan today"