Tashkent, Uzbekistan (UzDaily.com) -- Uzbekistan plans to raise funds from the European Bank for Reconstruction and Development to modernize the sanitation system of Khorezm region.

According to the draft resolution of the Government of Uzbekistan, the EBRD can provide a loan for US$90 million for the implementation of the project. The total cost of the project will be US$114.5 million.

Uzbekistan’s contribution to the project will be equivalent to US$24.5 million in the form of tax and customs benefits, interest payments on EBRD loans and commitments in the investment period.

The loan will be issued to Uzbekistan for 15 years, including a 5-year grace period.

It is expected that the sewage systems of the cities of Urgench, Khiva, Pitnak and Gurlen will be modernized as part of the project. The project will be implemented in 2019-2023.