On the sidelines of AIIB’s 10th Annual Meeting in Beijing, the Asian Infrastructure Investment Bank (AIIB) and the Republic of Uzbekistan concluded negotiations for a USD 71.1 million loan to support the Karakalpakstan and Khorezm Local Roads Network Reconstruction Project.

The loan is expected to be the first of a two-tranche loan financing, totaling USD 173.4 million, which will be considered for approval by the AIIB’s President.

The first loan tranche focuses on priority rural roads in Khorezm region, and the second loan tranche focuses on rural roads in the Republic of Karakalpakstan.

The proposed phased commitment approach allows the Government of Uzbekistan to optimize budget absorption, align with infrastructure priorities, and improve delivery sequencing. It also enables AIIB to provide tailored support while strengthening institutional capacity and leveraging lessons learned from each phase.

The Asian Infrastructure Investment Bank is a multilateral development bank dedicated to financing “infrastructure for tomorrow”, with sustainability at its core. AIIB began operations in 2016, now has 110 approved members worldwide, is capitalized at USD 100 billion, and is AAA-rated by major international credit rating agencies. AIIB collaborates with partners to mobilize capital and invest in infrastructure and other productive sectors that foster sustainable economic development and enhance regional connectivity.

Aziza Alimova, UzA