India offers US $448 million Line of Credit to Uzbekistan
India has also reiterated its commitment to further strengthen the development partnership with Uzbekistan
India has approved US S $448 million worth of Line of Credit to Uzbekistan for its development projects in road construction, sewerage treatment and information technology.
Such decisions were taken in the course of a virtual summit between Prime Minister Narendra Modi and Uzbekistan President Shavkat Mirziyoyev on Friday.
The Uzbek side conveyed its desire to explore the possibility of implementing priority developmental projects in Uzbekistan as part of the US $ 1 billion Line of Credit offered by India for Central Asian countries during the 2nd meeting of the India-Central Asia Dialogue, a joint statement issued after the virtual summit between India and Uzbekistan maintained.
The Uzbek side expressed its intention to use effectively the innovative grant financing mechanism of the Indian government for undertaking community development projects in Uzbekistan under the MoU on High Impact Community Development Projects (HICDPs).
Uzbek President Shavkat Mirziyoyev thanked Prime Minister Modi for assistance to Uzbekistan-India Entrepreneurship Development Centre and noted that the Centre would not only help develop entrepreneurs in sunrise as well as traditional sectors in Uzbekistan, but will also help in training and development of professionals, thereby realizing the full potential of the demographic dividend in Uzbekistan.
Both leaders noted the increasing G2G and B2B ties between both countries in the areas of Information Technology and Education sector. The Uzbek side thanked the Indian side for the deputation of an Indian expert to develop IT Parks in Uzbekistan. The Uzbek side noted that courses offered by the Indian Universities set up in Uzbekistan are sought after by the Uzbek students.