Finance Ministry of Uzbekistan, ADB sign loan agreements on realization of projects in livestock breeding and urban development

The Ministry of Finance hosted a meeting with the President and Board Chairman of ADB Takehiko Nakao.

At the meeting, the parties discussed the macroeconomic situation in Uzbekistan, ongoing large-scale economic reforms in the country, as well as cooperation with ADB in implementing sectorial reforms. In particular, expert assistance in reforming the banking sector, energy, transport, agriculture, irrigation and urban development were considered.

The draft Law on the State Budget of Uzbekistan for 2020 and changes in the fiscal system provided for by the draft were also discussed during the talks. Increase in the role and obligations of local budgets, along with norms aimed at ensuring the openness and transparency of the entire budget system were highlighted.

As part of the meeting, the sides signed loan agreements on realization of projects in the areas of livestock breeding and urban development.