Deputy Prime Minister Mr. Jamshid Kuchkarov and Officer-in-Charge of ADB’s office in Uzbekistan Mr. Enrico Pinali on 12 December signed loan agreements totaling $500 million for improving economic management and developing Uzbekistan’s mortgage market sector.
ADB’s $200 million loan for Mortgage Market Sector Development Program will help the government reform its housing finance programs and provide families with more affordable mortgage products.
Second subprogram of Economic Management Improvement Program for $300 million will further strengthen economic management in Uzbekistan, which should lead to greater macroeconomic stability and sustained economic growth. France’s Agence Française de Développement signed cofinancing agreement with ADB and Government of Uzbekistan for $55.51 million for the second subprogram.
