Monday, 22, July, 2024

The Jan 18 Presidential Order "On Aral Sea region Development Program for 2017-2021" has established the Aral Sea region Development Fund under the Uzbek Ministry of Finance.

The fund's objectives - financial support to implementation of projects aimed at development of the Aral Sea region and drastically improve the conditions and quality of life of local people.

The cash will be raised from a variety of sources, such as: 10% is to be credited to the Reconstruction and Development Fund of Uzbekistan; 10% from special investment markup for natural gas sold to gas stations; the state’s target funds, including centralized investment; soft loans (loans) from international financial institutions and foreign donors; grants, voluntary contributions from individuals and legal entities, charity funds, foreign donor; other sources not prohibited by laws.

The Aral Sea region development program provides for implementation of projects worth 8.422 trillion soums.

The program includes measures for creation of jobs, increase the region’s investment attractiveness, improving water supply, sewers system, sanitation and waste disposal, improving health, living conditions of the population, improvement of territories, establishment of nurseries and playgrounds, development of transport, engineering and communications infrastructure of areas, improving the heating systems of Nukus and Urgench cities.

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