WB to send $200M to develop small businesses in Uzbek villages

The World Bank (WB) Board of Directors has approved a loan worth $200 million to the government of Uzbekistan for the development of rural entrepreneurship in three areas in the east of the country, Trend reports with reference to the World Bank office in Uzbekistan.

"The project was approved by the Board of Directors of the World Bank. It will be implemented through a loan from the International Bank for Reconstruction and Development (part of the WB) in the amount of $200 million," WB noted.

The representative office stated that the project will provide technical assistance and loans for the development of entrepreneurship in Andijan, Fergana and Namangan regions. Enterprises in rural areas will be assisted in establishing value chains and expanding access to markets in urban areas of the region, in other economic centers of Uzbekistan and Central Asia.

The project will help the development of small businesses in such promising sectors as agriculture, food processing, handicraft production, and tourism.

Uzbekistan became a member of the World Bank in 1995. Since 1995, the bank has provided Uzbekistan with loans and loans totaling about $4 billion for the implementation of 36 projects in the field of privatization, development of the financial sector, modernization of agriculture, electric power, improvement of social infrastructure, health care and education.

26.03.2019 10:00 / Hits: 80 / Print
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