ADB supports Uzbekistan's economic transformation, global trade integration

Alsharq Tribune-AFP 

The Asian Development Bank (ADB) said on Wednesday that it has approved a 500-million-U.S.-dollar policy-based loan to support Uzbekistan in strengthening public sector efficiency, advancing economic governance, and accelerating the country's integration into the global economy.

The Economic Management Improvement Program (Phase 2) builds on earlier reform efforts and supports a new generation of institutional measures to enhance fiscal transparency, modernize the governance of state-owned enterprises, and foster a more competitive, inclusive, and resilient economic environment, the ADB said in a press release.

"This program reflects Uzbekistan's strong commitment to institutional reform, inclusive growth, and global integration," said ADB Country Director for Uzbekistan Kanokpan Lao-Araya.

ADB remains committed to supporting reforms that unlock the country's full potential as Uzbekistan moves toward World Trade Organization accession and deeper global engagement, said Lao-Araya.