The Ministry of Economy and Finance of Uzbekistan and the World Bank have signed an agreement for a $50 million concessional loan to support the implementation of the Digital Inclusion Project, as reported by the international financial organization’s press service.

During the spring meetings of the World Bank Group (WBG) and the International Monetary Fund (IMF) in Washington, DC, WB Vice President of Europe and Central Asia Antonella Bassani discussed with deputy prime minister and minister of economy and finance Jamshid Kuchkarov the efforts of the government of Uzbekistan in implementing market reforms and strategies to address the impacts of climate change.

The agreement also includes financing for a project aimed at developing Uzbekistan’s digital economy, fostering development, investment, and creating job opportunities in the IT services sector.

The concessional loan is expected to support the employment of approximately 9,000 young individuals from rural and remote areas of Uzbekistan, including 4,500 women and 360 people with disabilities, in information technology-enabled (ITES) services.

Furthermore, plans involve establishing up to 11 regional ITES centers across the country, providing modern office spaces. These initiatives aim to encourage ITES companies to establish offices in various regions of Uzbekistan.