Tashkent, Uzbekistan (UzDaily.com) -- Mr. Enrico Pinali, Officer-in-Charge of ADB’s office in Uzbekistan  and Deputy Prime Minister Mr. Jamshid Kuchkarov on 12 December signed loan agreements totaling US$500 million for improving economic management and developing Uzbekistan’s mortgage market sector.

ADB’s US$200 million loan for Mortgage Market Sector Development Program will help the government reform its housing finance programs and provide families with more affordable mortgage products.

Second subprogram of Economic Management Improvement Program for US$300 million will further strengthen economic management in Uzbekistan, which should lead to greater macroeconomic stability and sustained economic growth.

France’s Agence Française de Développement signed cofinancing agreement with ADB and Government of Uzbekistan for US$55.51 million for the second subprogram.