Germany to support Uzbekistan with loans and grants worth EUR 61mn
Germany to support Uzbekistan with loans and grants worth EUR 61mn
The German government is intending to allocate EUR 61mn to Uzbekistan this year, including 23.5mn euros in soft loans and 37.5mn euros in grants and technical assistance. A corresponding agreement was reached at a virtual conference organized by the Ministry of Investment and Foreign Trade of Uzbekistan and Federal Ministry for Economic Cooperation and Development of Germany on May 14.
The German side supported the proposals of the Uzbek side on the channeling of new funds towards financing projects in the fields of vocational education, lending to small and medium-sized businesses, creating new jobs, improving plant quarantine services, the health system and other areas.
It also added that in accordance with the ministry’s new Strategy-2030, Uzbekistan has been identified as the only partner country of Germany in the Central Asian region.
Meanwhile, Uzbekistan`s government debt continues to rise. According to the country’s statistical committee, this figure has almost doubled over the past two years. By the end of 2020, the country's total external debt amounted to $33.8bn, which was 58.6% of GDP. So far Uzbekistan has received $250mn worth of loan from the International Bank for Reconstruction and Development (IBRD), EUR 1.8bn from the European Bank for Reconstruction and Development (EBRD).
.png "YouTube UZREPORT TV")
