Tue 10 2019 08:13:24
A meeting was held at the Ministry of Investment and Foreign Trade with the leadership of the representative office of the Asian Development Bank (ADB) in Uzbekistan with the involvement of specialists and experts from ministries and departments, during which the course of implementation of investment projects with the participation of ADB was discussed. This was reported by the press service of the Ministry of Investment and Foreign Trade.
The head of the representative office, Cindy Malvichini, gave a positive assessment to the rate of withdrawal of funds from ADB loan accounts as part of ongoing projects in Uzbekistan and recorded 2.5 times growth compared to last year.
In the course of the portfolio review, progress in the implementation of common initiatives, existing issues and their solutions to ensure the fulfillment of the forecast for the development of borrowed funds were reviewed. The initiators of these projects were given appropriate recommendations on the preparation of tender documents and tender procedures, the hiring of consultants and contractors and the implementation of procurement procedures.
Till today 25 investment projects are being implemented with the participation of ADB in the total amount of $ 3.9 billion. with an annual forecast of a sample of ADB soft loans in the amount of 587.0 million dollars.
For the period January-September of this year for ADB projects implemented as part of an active portfolio, the withdrawal of funds from the ADB loan account amounted to 470.5 million dollars. or 80.2% of the annual forecast, as well as 16.9% of the balance as of January 1, 2019.