ADB Approves 100-Million-USD Loan To Spur Uzbekistan’s Financial Markets

TASHKENT– The Asian Development Bank (ADB), approved a 100-million-U.S. dollar policy-based loan, to support development of competitive financial markets in Uzbekistan, the ADB said yesterday.

“As Uzbekistan accelerates its transition towards a market economy, robust and competitive domestic financial markets are essential for mobilising private investment,” Yevgeniy Zhukov, ADB director general for Central and West Asia, said in a statement.

He noted that, the ADB will help develop financial markets in Uzbekistan and stimulate private investment — a key driver of economic growth and an important source of new jobs in the country.

The ADB has committed loans, grants, and technical assistance amounting to 10.1 billion dollars for Uzbekistan, since the country joined the international lender in 1995, according to the bank.

Source: NAM NEWS NETWORK