US$033 million from IsDB to finance the Construction of Modern Rural
Housing Project in Uzbekistan
Tashkent, 02 May 2017 : A Financing Agreement was signed between H.E. Mr. Botir
Khodjaev, the Minister of Finance of the Republic of Uzbekistan and Mr. Hisham Taleb
Maarouf, the Director of the Regional Office Almaty of the IDB Group for an amount of US$
300 million to finance the Construction of Modern Rural Housing Project (Phase-II). The
Agreement was signed in the presence of the Project Implementing Agency – the Kishlok
Kurilish Invest and the Participating Financial Institution - Kishlok Kurilish Bank.
The Project development objective is to expand access to affordable and improved
housing, equipped with associated basic infrastructure as well as social and market
facilities for the rural population of six regions of Uzbekistan, namely Bukhara,
Namangan, Andijan, Jizzakh, Navoiy, and Syrdarya regions during the period 2017-2019.
This is expected to contribute to the overall goal of the Government of Uzbekistan’s
Program on Construction of Affordable Housing on Renewed Model in Rural Areas
primarily aimed to improve the living standards of the population residing in rural areas.
The expected project outcomes includes availability of new, modern and affordable
houses to at least 6,400 rural families, with access to centralized water, electricity, gas
supply and improved rural infrastructure. Project is also expected to improve services
through access to social and market related facilities to at least 25,000 people and
creation of new job opportunities for more employment of people living in rural areas.
Subject project is a continuation of the Phase-I that was successfully implemented
between 2015-2016. In less than two years of actual physical implementation the Phase-1
of the project, resulted in construction of 1415 units of modern houses for people living in
rural areas with relevant infrastructure. It is estimated that direct and indirect jobs
created by the project stands at 75,000 people, almost all in rural areas. The IDB provided
USD 100 million for the implementation of the phase.
Since Uzbekistan joined the IDB in 2003 the IDB Group portfolio in the country has grown
substantially largely thanks to the Government active cooperation, ensuing in a number
of approvals for financing of the top priority investment projects in the sectors such as
transport, energy, health, education, water resources, rural and urban infrastructure
development, as well as extending line of financing for the private sector. The IDBG total
approvals for the country now exceeds US$ 2.0 billion which is a strong indication that
IDB Group is a strategic partner of the Republic of Uzbekistan.