Tashkent, Uzbekistan (UzDaily.com) -- The Asian Development Bank (ADB) and the Government of the Republic of Uzbekistan today signed a loan agreement worth US$300 million to help improve economic governance in Uzbekistan, which will contribute to ensuring macroeconomic stability and high economic growth in the country.

The Economic Management Improvement Program was approved by ADB’s Board of Directors on 26 June, 2018 and aims to support the government’s efforts to ensure fiscal sustainability, as well as to improve the administration of state-owned enterprises that dominate virtually all key sectors of Uzbekistan’s economy and ensure their more financial- effective activities.

In addition to the loan, ADB will also provide technical assistance for US$1 million to strengthen the government’s capacity to implement reforms, in particular budget mechanisms, public-private partnerships, internal audit, risk-based supervision and capital adequacy assessment, among others, the gender sensitivity of the public expenditure program.