AIIB provides loan for development of water supply systems in Uzbekistan
TASHKENT, Uzbekistan, August 15. The Asian Infrastructure Investment Bank (AIIB) has allocated funds to Uzbekistan for the implementation of the second phase of a project for developing water supply and sanitation systems in the Bukhara region, Trend reports.
In 2020, $385 million was allocated for the implementation of the first phase.
This time, the AIIB is providing a loan of $248.4 million for a period of 25 years.
The total cost of the second phase of the project is $281.25 million. Uzbekistan’s contribution to the project’s implementation in terms of value-added tax coverage and customs benefits is estimated at $32.85 million.
The AIIB is an international financial institution established in 2014, with its main goals being to promote development and economic integration in the Asia-Pacific region, as well as to stimulate financial cooperation and fund infrastructure projects.
Uzbekistan has been the bank’s member since its establishment.