The loan agreement was signed in Tashkent between the Kuwait Fund for Arab Economic Development and the Government of Uzbekistan on October 22 to finance rehabilitation of irrigation and drainage networks in Jizzakh and Sydarya regions, reported the Uzbek Ministry of Agriculture and Water Resources.
The Kuwait Fund for Arab Economic Development will extend US$15.62 million loan for 21 years for the given project with the purpose to boost agricultural crops yield in the targeted regions of the country via modernization of the existing irrigation and drainage networks and construction of new one.
A new pump station and canal will be constructed in Jizzakh region as well.
The Islamic Development Bank and OPEC Fund will contributed US$65.37 million for the project.
Thus, foreign investments for the project will amount to US$81 million in total. The project will be implemented during 2009-2014.
KAFED extended 5 loans worth US$90 million to finance different projects in Uzbekistan”s economy and provided 2 grants valued at S$1.12 million since establishment of the bilateral cooperation.
