The Asian Development Bank (ADB) has approved a $500 million policy-based loan to support Uzbekistan in strengthening public sector efficiency, advancing economic governance, and accelerating integration into the global economy. The Economic Management Improvement Program (Phase 2) builds on earlier reform efforts and introduces new institutional measures to improve fiscal transparency, modernize the governance of state-owned enterprises (SOEs), and foster a competitive, inclusive, and resilient economic environment. The program aligns with international standards and reflects Uzbekistan’s commitment to deepening its market-based transformation.
ADB Country Director for Uzbekistan Kanokpan Lao-Araya emphasized that the program demonstrates the country’s strong commitment to institutional reform, inclusive growth, and global integration. ADB remains a strategic partner in supporting reforms that unlock Uzbekistan’s economic potential as it pursues World Trade Organization (WTO) accession and deeper engagement with global markets.
The program implements comprehensive reforms to strengthen Uzbekistan’s institutional framework and global integration. Key measures include unified regulations for public investment in public–private partnerships, legislation to enhance competition and investment governance, and modernization of SOE management through improved board structures, gender representation targets, and mandatory adoption of international financial reporting standards. The reforms also expand the country’s tax base, enhance international tax cooperation, advance anti-corruption efforts, and align national legislation with global trade and investment norms to support WTO accession.
Recognizing the social impact of economic reform, the program incorporates measures to strengthen social protection systems and mitigate the effects of restructuring on vulnerable groups, ensuring that the benefits of reform are inclusive and contribute to long-term social cohesion.
This year marks the 30th anniversary of ADB’s partnership with Uzbekistan. Since joining the bank in 1995, Uzbekistan has received public sector loans, grants, and technical assistance totaling $14.6 billion. ADB continues to support inclusive, resilient, and sustainable growth across Asia and the Pacific through innovative financial tools and strategic partnerships that transform lives, build quality infrastructure, and safeguard the environment.
