Asian Bank Of Development Allocates Over USD 418 Million To Uzbekistan

The Asian Bank of Development (ABD) has allocated over USD 418 million to improve the water-supply system in the rural areas of Karakalpakia (an autonomous republic in northwestern Uzbekistan). USD 400 million of the amount were allocated in loans and USD 18 million in grants, the ABD representation in Tashkent informed RIA Novosti. According to a Bank representative, once realised, the project will improve water-supply for over 30,000 people. The project envisages granting micro-credits and medium loans to private individuals prepared to start their own small business. Legal entities can also aspire for loans up to USD 10,000 from the international financial organisation.