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07/April/2021   Government

$50 million – to modernize innovation system of Uzbekistan


TASHKENT, April 7. /“Dunyo” IA/. The Cabinet of Ministers of Uzbekistan adopted a resolution “On measures to implement the project “Modernization of the national innovation system of Uzbekistan” with the participation of the International Development Association, reports “Dunyo” IA correspondent.

The World Bank will allocate a $50 million loan to the International Development Association (IDA) to finance a project to modernize the national innovation system of Uzbekistan. The project will be implemented in 2021-2026. The loan is allocated for 30 years with a grace period of 5 years.

A loan for 1 million 924 thousand dollars is allocated for the creation of a project implementation group, the provision of necessary equipment and premises and the attraction of foreign consultants within the framework of an agreement between Uzbekistan and the World Bank.

The Ministry of Innovative Development of Uzbekistan is responsible for coordinating the timely implementation of the project, as well as for the targeted and effective use of IDA loans.

The funds will be used to finance priority projects for the development of biotechnology, increasing soil fertility, the introduction of artificial intelligence, the development of renewable energy sources.

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