ADB Approves $500 Million Loan to Boost Uzbekistan's Economic Reforms and Global Integration

ADB Supports Uzbekistan's Economic Transformation

The Asian Development Bank (ADB) announced on October 15, 2025, the approval of a $500 million policy-based loan to support Uzbekistan's ongoing efforts to strengthen public sector efficiency, advance economic governance, and accelerate its integration into the global economy. This significant financial commitment is part of the 'Economic Management Improvement Program (Phase 2)', building upon previous reform initiatives undertaken by the Central Asian nation.

The program is designed to introduce a new generation of institutional measures aimed at improving fiscal transparency, modernizing the governance of state-owned enterprises (SOEs), and fostering a more competitive, inclusive, and resilient economic environment. These reforms align with international standards and underscore Uzbekistan's commitment to deepening its market-based transformation.

Key Reform Areas Under the Program

The comprehensive set of reforms supported by the ADB loan targets several critical areas:

• Public Sector Efficiency: Adoption of unified regulations for public investment in public–private partnerships (PPPs) to enhance transparency and investor confidence.
• Economic Governance: Enactment of legislation to enhance competition and investment governance, alongside the modernization of SOE governance through improved board structures, gender representation targets, and mandatory adoption of international financial reporting standards.
• Fiscal and Anti-Corruption Measures: Expansion of the tax base, strengthening of international tax cooperation, and advancement of anticorruption efforts through conflict of interest legislation and modernized audit systems.
• Global Integration: Alignment of national laws with global trade and investment norms to support Uzbekistan's accession to the World Trade Organization (WTO) and deeper engagement with global markets.
• Social Protection: Measures to strengthen social protection systems and mitigate the impact of economic restructuring on vulnerable groups, ensuring inclusive benefits of reform.

Statements from Officials and Partnership Context

Kanokpan Lao-Araya, ADB Country Director for Uzbekistan, emphasized the significance of the program, stating, 'This program reflects Uzbekistan's strong commitment to institutional reform, inclusive growth, and global integration.' Lao-Araya added that the ADB remains a strategic partner, supporting reforms that unlock Uzbekistan's economic potential as it pursues WTO accession and deeper global engagement.

This year marks the 30th anniversary of the partnership between ADB and Uzbekistan. Since joining the bank in 1995, Uzbekistan has received public sector loans, grants, and technical assistance totaling $14.6 billion. The ADB, founded in 1966 and owned by 69 members, including 50 from the Asia-Pacific region, continues to support inclusive, resilient, and sustainable growth across the region.