ADB helps in improving financial sustainability of Uzbekistan cities

17/11/2022 - 20:09 517

A two-day training workshop for government officials organized by the Asian Development Bank (ADB) brought together international experts and participants from various city, regional, and central authorities of the country to learn about international best practices in financing sustainable urban development. The workshop was organized with the support of the Ministry of Investment and Foreign Trade (MIFT) and Ministry of Economic Development and Poverty Reduction.

International experts from ADB and the Hague Academy presented global trends, challenges, and good practices in the field of municipal finance. It showcased examples from other countries such as Georgia, South Africa, and the Netherlands and highlighted the importance of sustained collaboration between all levels of government and the importance of meaningful inclusion of local communities in the decision-making processes.

The workshop also gave an opportunity to explore different financing possibilities for urban development, including intergovernmental fiscal transfers (IGFTs), as well as the innovative use of digital technologies.

“Making cities environmentally sustainable, livable, and inclusive is one of the great challenges of our time,” said Ms. Gia Heeyoung Hong, ADB’s Director (Officer-in-Charge) of Urban and Water for Central and West Asia. “The success of this process is directly tied to a responsive and sustainable municipal finance system.”

ADB supports the government’s urbanization efforts through the integrated urban development project. Last month ADB approved a $59 million loan and $500,000 grant to enhance livability and economic competitiveness in four secondary cities of Uzbekistan. ADB’s Integrated Urban Development Project will support strategic investments in municipal infrastructure and services in the cities of Djizzak, Havast, Khiva, and Yangiyer, which have experienced slow growth due to the COVID-19 pandemic and vulnerability to climate change. Through the project, ADB also supports institutional strengthening and capacity building of government officials.

Uzbekistan joined ADB in 1995. Since then, ADB has committed loans, grants, and technical assistance amounting to $10.5 billion to the country.

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.