he World Bank’s Board of Directors has approved $800 million in concessional loans to support Uzbekistan’s reform agenda. These funds will be provided to the Uzbek government at lower interest rates and with longer repayment terms compared to options available on international financial markets. “This will help Uzbekistan save substantial financial resources that can be directed toward addressing urgent socio-economic challenges,” the lending institution explained.
The reform program backed by the World Bank aims to accelerate Uzbekistan’s transition to an inclusive and sustainable market economy. Uzbekistan became a member of the World Bank Group organizations in 1992-1993. Since 2017, following a change in the country’s presidency, the World Bank has significantly increased its financial and analytical support to Uzbekistan. Today, the republic is the World Bank’s third-largest client in the Europe and Central Asia region and the largest recipient of IDA financing in the region. As of April 1, 2024, the World Bank’s program in Uzbekistan comprises 27 projects totaling approximately $6.07 billion.
