Japan to allocate almost $250 mln to Uzbekistan for economic development
Economy
Over $246.2 million will be allocated for economic and social development programs.
The agreement was signed by First Deputy Minister of Economy and Finance Ilkhom Norkulov and head of the Japan International Cooperation Agency (JICA) office in Uzbekistan Yoshchibumi Bito.
The funds will be used to support reforms aimed at developing a market economy in Uzbekistan, as well as to assist vulnerable segments of the population. The loan will be provided to Tashkent in Japanese yen for up to 30 years with a grace period of 10 years and an interest rate of 1.8% per annum.
JICA's current priorities in Uzbekistan are to support economic infrastructure, the private sector and rural development.
From 1993 to 2021, projects totaling $1.5 billion were implemented in Uzbekistan with the support of JICA loans.
In the future, the agency plans to provide assistance to Tashkent in the fields of energy and medicine.
The funds will be used to support reforms aimed at developing a market economy in Uzbekistan, as well as to assist vulnerable segments of the population. The loan will be provided to Tashkent in Japanese yen for up to 30 years with a grace period of 10 years and an interest rate of 1.8% per annum.
JICA's current priorities in Uzbekistan are to support economic infrastructure, the private sector and rural development.
From 1993 to 2021, projects totaling $1.5 billion were implemented in Uzbekistan with the support of JICA loans.
In the future, the agency plans to provide assistance to Tashkent in the fields of energy and medicine.
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