Tashkent, Uzbekistan (UzDaily.com) – Resolution of the “On measures to implement the project "Water resources management in the Aral Sea basin, taking into account adaptation to climate change" with the participation of the Asian Development Bank” was adopted.

In accordance with the Agreement between the Republic of Uzbekistan and the Asian Development Bank, a loan in the amount of US$150 million is provided for a period of 25 years, including a five-year grace period.

The total cost of the project is US$194.9 million, including the contribution of Uzbekistan in the equivalent of US$40.2 million, of which US$26.6 million is in the form of VAT refunds and exemptions from customs duties at the expense of the republican budget.

About US$3 million is allocated from the Asian Development Fund, US$0.3 million from the Asian Development Bank’s High Technology Fund, and the share of farms is US$1.38 million.

During the project implementation period (7 years - from 2022 to 2029), special machinery, mechanisms and technological equipment registered under the "temporary import" customs regime are conditionally exempt from customs duties and taxes.

The project is being implemented in the Republic of Karakalpakstan, Bukhara, Surkhandarya and Khorezm regions.

The Ministry of Water Resources is the executive body responsible for the implementation of the project, the targeted and efficient use of credit and grant funds, as well as ensuring the achievement of all targets. The functions of managing and coordinating the project are assigned to the Center for the Implementation of Foreign Investment Projects in the Water Sector under the Ministry of Water Resources.

Expenses related to the repayment of the loan of the Asian Development Bank, as well as the payment of interest, commission and other payments, are carried out at the expense of the Republican budget of Uzbekistan.