On March 25 this year, a loan agreement was signed between the Republic of Uzbekistan and the ADB for the implementation of the “Development of National Highways” project, Norma reports.

The ADB Board of Directors approved a loan of $273.8 million for the implementation of the project for a period of 24 years, including a four-year grace period. They are:

•  $183.8 million – for the implementation of the Surkhandarya project;
•  $90 million – for the completion of the Bukhara project.

The project implementation period is 6 years (2022-2027, including a four-year grace period).

The document establishes that the Committee on Highways is the responsible executive body for coordinating and monitoring the implementation of the project, as well as the targeted use of ADB borrowed funds. Under it, a group for the implementation of the project was created. The committee chair is authorized to sign the project agreement with ADB under the project.

Expenses related to the repayment of the ADB loan, as well as the payment of interest, commission and other payments on it, are carried out at the expense of the republican budget.

The resolution approved:

•  forecasted repayment schedule for the loan allocated by the ADB within the framework of the Bukhara project, payment of interest and commission payments on it;
•  the main technical and economic indicators of the feasibility study of the Surkhandarya project;
•  forecasted repayment schedule for the loan allocated by the ADB, as well as payment of interest and commission payments for the Surkhandarya project.