The Board of Directors of the Asian Development Bank has approved on Thursday a credit extension to Uzbekistan in the amount of $500 million for housing construction, as it follows from the bank’s report.
“ADB has approved the extension of a credit in the amount of $500 million for the purpose of construction of 29,000 new homes in nine regions of Uzbekistan, within the framework of the state program for available housing in rural area,” the message reads.
According to the bank’s data, these funds will be transferred through three Uzbek banks: National Bank VED, Mortgage Bank and Qishloq Qurilish Bank (the bank for rural development).
It’s assumed that the provision of available housing will allow to keep in rural areas owners of small-sized businesses and low-income specialists, such as teachers and doctors.
