OREANDA-NEWS. December 24, 2009. The partnership between Uzbekistan and the Asian Development Bank (ADB) has been developing rapidly in the recent years. In particular, ADB's resources are directed on the development of small business and financing large investment projects in the country.

The bank's funds are also used for the improvement of mechanisms of crediting manufacturers of agricultural products, enterprises of all forms of ownership to assist in introducing advanced technologies and equipment, allowing to produce goods competitive in the world and market, as well as saturation of the domestic marked with high-quality consumer goods.

Since 2001 ADB's resources have been involved and widely used in the sphere of project financing by Agrobank open joint-stock commercial bank. In particular, the bank has attracted resources of three credit lines of the ADB.

Thus, in line with the ADB funds loan up agreement dated 13 September 2001 worth US15 million, signed by the government of Uzbekistan and Agrobank, US 13.4 million were attracted on preferential basis and 15 large projects in various branches of economy were financed at the expense of these money resources.

Besides, according to the agreement dated 2 November 2004, reached between the Uzbek government and АDB, and the ADB funds loan up agreement worth US 7 million, signed between Finance Ministry, Agrobank and the Agency for Restructuring of Agricultural Enterprises dated 27 January 2006 (grain productivity improvement project), money resources for US 6.9 million were involved on preferential basis. 93 projects of agricultural manufacturers in Jizzakh, Tashkent and Samarkand regions were financed at the expense of these funds.

Moreover, according to the agreement No.2017-UZB reached between the Uzbek government and АDB and the ADB funds loan up agreement worth US 3.2 million, signed between Finance Ministry, Agrobank and Agency for Restructuring of Agricultural Enterprises dated 7 August 2006 (Аmuzang machine canal restoration project) US 2.5 million worth of funds were attracted on preferential basis. Financing of 63 agricultural producers in 5 districts of Surkhandarya region was opened at the expense of these money resources.

It should be noted that ADB's resources for US 22.8 million will be attracted within the Agrobank system till the end of 2009 with the purpose of financing of 171 enterprises. According to the repayment schedule, Agrobank has returned US 8.9 million to ADB: US 4.9 million of basic debt and US 4 million – interest payments.

So, the partnership between Agrobank and the Asian Development Bank are more and more improved, further plans are developed on attraction of resources on preferential basis to finance the enterprises of various spheres of economy.