The European Bank for Reconstruction and Development (EBRD) has allocated a sovereign loan of up to $238 million to Uzbekistan for the reconstruction of the 4R156 highway "Urgench – Khanka – Khazrasp – Tashsoka – Amudarya – A380 highway," the Ministry of Economy and Finance press service reported.
The corresponding agreement was signed during the Tashkent International Investment Forum. It is expected that about 81 km of the road will be reconstructed, and a bridge will be built across the Amudarya River in the Khorezm region.
"This strategically important road is part of the transportation network that connects Urgench to the A380 road in Kazakhstan, forming Corridor 2 of the Central Asian Regional Economic Cooperation," the EBRD press release stated.
Upon completion of the construction works, the current second-category single-lane road will be upgraded to a first-category dual-carriageway. The bank's funds will also help modernize the auxiliary infrastructure along the 4R156 road.
"The project will significantly improve the capacity of the new road, thereby stimulating trade and tourism in the Khorezm region," emphasized the EBRD.
The President of the EBRD, Odile Renaud-Basso, who is currently visiting Uzbekistan, stated: "We support this project because it aligns with our strategic goals in Uzbekistan and Central Asia. It is also part of the global transport and logistics infrastructure solutions covered by the European Union's Global Gateway initiative."
In January 2024, at the EU-Central Asia Transport Investors Forum in Brussels, the EBRD expressed readiness to invest around €1.5 billion in infrastructure related to the Trans-Caspian Corridor and associated transport solutions over the next two to three years.
