Azernews.Az

By Aynur Jafarova

Uzbekistan is planning to attract a loan worth $660.8 million from the World Bank in 2014-2015, a source in Uzbek financial sector told Trend Agency on June 3.

Currently, the relevant agencies of the Uzbek government and the expert groups of the World Bank hold discussions on the participation of the bank in several investment projects in the country.

In particular, the sides are discussing the possibility of allocating a World Bank loan worth $260.8 million in the second half of 2014 for the project to modernize the drainage system in the Karakalpakstan Autonomous Republic.

Also, the Uzbek government expects to attract a World Bank loan worth $200 million in early 2015 to construct a railway in the Ferghana Valley through the Kamchik pass, a loan worth $150 million on the development of horticulture in the country and a loan worth $50 million to support reforms in education field.

Uzbekistan joined the WB in 1992. The WB's mission in the country is to improve people's livelihood by supporting economic reforms, contributing to the modernization of the country's social sectors and infrastructure, and sharing its knowledge and experience with the government and the people of Uzbekistan. The WB's current commitments to Uzbekistan amount to over $1 billion.