The Board of Directors of the French Development Agency (AFD) has approved a loan of 150 million euros to Uzbekistan to finance state budget spending, the draft presidential decree said.
On November 22, 2018, the Board of Directors of AFD approved a loan of 150 million euros to the Republic of Uzbekistan for budget support under the Economic Management Improvement Program developed with the assistance of the Asian Development Bank.
The maturity of the loan is 20 years, including a six-year grace period.
AFDis s a public financial institution that implements the policy defined by the French Government. It works to fight poverty and promote sustainable development. This institution is active in Africa, Asia, the Middle East, Latin America, the Caribbean and the French overseas territories where it finances and supports projects that improve living conditions for populations, promote economic growth and protect the planet.
In order to operate its activities in Uzbekistan, the AFD opened a representative office in Tashkent in August 2015.