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Uzbekistan Secures USD233M ADB Loan for Key Road Project
(MENAFN) The Asian Development Bank (ADB) has greenlit a $233.1 million loan to Uzbekistan aimed at upgrading a vital section of the Central Asia Regional Economic Cooperation (CAREC) Road Corridor 2, the bank announced Thursday.
According to a statement from the Manila-based institution, the investment will support efforts to enhance regional connectivity, cut down travel times, and improve both road safety and climate resilience across western Uzbekistan.
"By integrating climate-resilient infrastructure and intelligent transport systems, the project will ensure long-term sustainability and deliver safer and more efficient mobility for communities and businesses," said ADB Country Director for Uzbekistan Kanokpan Lao-Araya.
The bank emphasized that the initiative is a strategic part of broader regional development goals under the CAREC program, which links Central Asian economies to global markets.
Uzbekistan, which became a member of the ADB in 1995, has received approximately $14.3 billion in public sector loans, grants, and technical assistance from the institution to date, the bank noted.
According to a statement from the Manila-based institution, the investment will support efforts to enhance regional connectivity, cut down travel times, and improve both road safety and climate resilience across western Uzbekistan.
"By integrating climate-resilient infrastructure and intelligent transport systems, the project will ensure long-term sustainability and deliver safer and more efficient mobility for communities and businesses," said ADB Country Director for Uzbekistan Kanokpan Lao-Araya.
The bank emphasized that the initiative is a strategic part of broader regional development goals under the CAREC program, which links Central Asian economies to global markets.
Uzbekistan, which became a member of the ADB in 1995, has received approximately $14.3 billion in public sector loans, grants, and technical assistance from the institution to date, the bank noted.
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