Wednesday, 15, October, 2025

The Asian Development Bank (ADB) has approved a $500 million policy-based loan to support the Government of Uzbekistan in strengthening public sector efficiency, advancing economic governance, and accelerating the country’s integration into the global economy.

The Economic Management Improvement Program (Phase 2) builds on earlier reform efforts and supports a new generation of institutional measures to improve fiscal transparency; modernize the governance of state-owned enterprises (SOEs); and foster a more competitive, inclusive, and resilient economic environment. The program is aligned with international standards and reflects Uzbekistan’s commitment to deepening its market-based transformation.

“This program 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 modernization. ADB remains committed to supporting reforms that unlock the country’s full potential as Uzbekistan moves toward World Trade Organization (WTO) accession and deeper global engagement.”

The program introduces a comprehensive set of reforms aimed at strengthening Uzbekistan’s institutional framework and global integration. These include the adoption of unified regulations governing public investment in public–private partnerships; the enactment of legislation to enhance competition and investment governance; and the modernization of SOE governance through improved board structures, gender representation targets, and mandatory adoption of international financial reporting standards. The program expands Uzbekistan’s tax base and strengthens international tax cooperation, while advancing anticorruption efforts through the enactment of a law on conflict of interest and the modernization of audit systems. It also aligns national legislation with global trade and investment norms to support the country’s accession to the WTO.

Recognizing the social dimensions of reform, the program also includes measures to strengthen social protection systems and mitigate the impact of economic restructuring on vulnerable groups. These safeguards aim to ensure that the benefits of reform are inclusive and contribute to long-term social cohesion.

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