The Asian Development Bank (ADB) has approved a $500 million policy-based loan to help Uzbekistan advance public sector efficiency, strengthen economic governance, and accelerate its integration into the global economy.
The funding supports Phase 2 of the Economic Management Improvement Program, which builds on the country’s ongoing reform agenda, The Caspian Post informs via Uzbek media.
The program aims to modernize public institutions, increase transparency in budget management, overhaul state-owned enterprise (SOE) governance, and create a more competitive, inclusive, and sustainable economic environment in line with international best practices.
“This program reflects Uzbekistan’s strong commitment to institutional reform, inclusive growth, and global economic integration,” said Kanokpan Lao-Araya, ADB Country Director for Uzbekistan. “As a long-term development partner, ADB is proud to support the government’s efforts toward economic modernization and progress toward WTO membership.”
Key Components of the Program:
Public-Private Partnership (PPP) Reform: A unified regulatory framework will standardize investment procedures, improving transparency and investor confidence.
Legal Framework Enhancement: New legislation will promote fair competition and improve investment management.
SOE Governance Overhaul: Reforms include board restructuring, implementation of gender quotas, and adoption of international financial reporting standards to improve accountability and performance.
To further strengthen fiscal sustainability, the program includes measures to:
Broaden the tax base;
Enhance international tax cooperation;
Implement stronger anti-corruption mechanisms, including a new law on conflicts of interest and updated audit practices.
In alignment with Uzbekistan’s bid for World Trade Organization (WTO) membership, national legislation is being harmonized with international trade and investment standards, reinforcing the country’s global economic engagement.
Social Impact and Protection Measures
Acknowledging the potential social challenges of structural reform, the program also prioritizes strengthening the social protection system. It includes policies aimed at safeguarding vulnerable populations and promoting inclusive development during the transition to a market-based economy.
A Long-Standing Development Partnership
The year 2025 marks 30 years of cooperation between ADB and Uzbekistan. Since joining the bank in 1995, Uzbekistan has received over $14.6 billion in financial assistance, including loans, grants, and technical support for projects across sectors such as infrastructure, education, energy, and governance.
Founded in 1966, the Asian Development Bank is a leading multilateral development institution committed to fostering sustainable and inclusive growth across Asia and the Pacific. With 69 member countries-50 from the region-ADB supports member nations through innovative financial tools, strategic partnerships, and a focus on improving quality of life.
