Asian Development Bank (ADB) has approved a $500 mln policy-based loan to support Uzbekistan’s ongoing economic transformation, focusing on improving public sector efficiency, strengthening governance, and deepening the country’s integration into the global economy.
The initiative, known as the Economic Management Improvement Program (Phase 2), builds on previous reform efforts and introduces a new wave of institutional measures designed to enhance fiscal transparency, modernise the management of state-owned enterprises (SOEs), and create a more competitive and resilient business environment. The programme aligns with international standards and underscores Uzbekistan’s determination to advance its market-oriented reforms.
«This programme reflects Uzbekistan’s strong commitment to institutional reform, inclusive growth, and global integration,» said ADB Country Director for Uzbekistan Kanokpan Lao-Araya. «As a strategic partner, ADB stands firmly with the government in its pursuit of economic modernisation and remains dedicated to supporting reforms that unlock the country’s full potential as it moves towards WTO accession.»
Key elements of the programme include unified regulations for public investment and public–private partnerships, new legislation to strengthen competition and investment governance, and the modernisation of SOE structures with greater board accountability and gender representation. It also requires the adoption of international financial reporting standards, broadens the national tax base, enhances cross-border tax cooperation, and introduces a law on conflict of interest as part of wider anti-corruption measures.
The reforms aim to align national laws with international trade and investment norms, paving the way for Uzbekistan’s accession to the World Trade Organization. Social protection mechanisms are also included to cushion vulnerable groups from the effects of economic restructuring, ensuring that growth remains inclusive.
The loan coincides with the 30th anniversary of ADB’s partnership with Uzbekistan. Since joining the bank in 1995, Uzbekistan has received $14.6 bn in loans, grants, and technical assistance from ADB.
