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International Journal of Trend in Scientific Research and Development (IJTSRD)
Special Issue on Innovative Development of Modern Research
Available Online: www.ijtsrd.com e-ISSN: 2456 – 6470

The Impact of Economic Relations between the Republic of

Uzbekistan and the Asian Development Bank on the

Economy of Uzbekistan

Otajonova Charoskhon
Master Student of the Tashkent State University, Tashkent, Uzbekistan

ABSTRACT social development of developing countries in Asia and the
This article describes the cooperation of Uzbekistan with Pacific.
the Asian Development Bank, its main directions, goals and
The main goal of the Asian Development Bank is to promote
practical implementation of projects accomplished and
the economic and social development of developing
being accomplished over the years.
countries in Asia and the Pacific. ADB promotes economic

KEYWORDS: Asian Development Bank, international financial development and cooperation among Asian countries,
institutions, international capital, technical support, energy, ensures the growth of capital investment from public and
private capital private funds, participates in the regulation of economic
plans leading to the development of regional trade, provides
In the context of modernization of the economy, the technical assistance in the preparation and implementation
development of sectors of the economy, the expansion of the of external projects. It plays a key role in promoting the
private sector, the state lacks its own internal financial country's foreign trade and economic development. The
resources. Of course, the role of international capital will organization also has the following 4 strategic objectives:
increase. Today, the importance of international financial 1. Promoting cooperation and economic growth in the Far
institutions in global financial relations is high. International East and Asia;
financial institutions have large financial resources and large 2. Poverty reduction;
powers. These organizations form the basis of global 3. Human resource development;
financial and credit relations. Cooperation with international 4. Rational use of nature.
financial institutions not only allows the country to attract According to the charter of the Asian Development Bank,
large sums of money to the economy, but also to have a place there are several special funds included in the banking
and voice in global financial relations. Therefore, expanding system, which are:
cooperation with international financial institutions is one of Special fund for long-term lending on favorable terms;
the most important issues for any country. Asian Development Fund;

Funds raised from international financial institutions play an Special Fund for Technical Assistance.
important role in the structural restructuring of the The Asian Development Bank provides loans to developing
country's economy, modernization of production, rapid countries from these funds as follows:
development of each sector and industry. At the same time, For a period of 25 years on a commercial basis at the
by financing the private sector through foreign credit lines, expense of an ordinary fund;
there is an opportunity to expand the activities of Up to 40 years for backward countries at a preferential
enterprises, increase production and bring the products of rate of 1-3% from the Asian Development Fund.
our country to the world market. Especially in recent years,
the financing of small businesses and private The Republic of Uzbekistan became a member of the ADB in
entrepreneurship through foreign loans and grants has been August 1995. In 1997, a representative office of the Asian
expanding, with a special focus on the development of Development Bank was opened in Tashkent. The head of the
women's entrepreneurship and manufacturing and services representative office is T. Konishi.
in rural areas. The programs and projects implemented in Uzbekistan
Today, Uzbekistan is a member of a number of international jointly with the Asian Development Bank include 4 main
financial institutions and has bilateral and multilateral sectors:
cooperation with these organizations. In this case, the role of agriculture;
the Asian Development Bank is very important. development of private entrepreneurship;
regional cooperation in the field of transport and
The Asian Development Bank (ADB) is one of the largest customs transit;
international financial institutions providing long-term loans improving social services for child protection and
for development projects in Asia and the Pacific. The primary education.
organization was founded on August 22, 1966 with the
signing of an agreement by 15 countries and is The Asian Development Bank's loans are mainly used to
headquartered in Manila, Philippines. The President of the finance the purchase of technology and equipment, partial
Asian Development Bank is elected for a term of 5 years. The reimbursement of working capital costs, financing of sub-
bank started its lending activities on December 19, 1966. The projects related to the modernization, re-equipment and
purpose of the bank was to contribute to the economic and establishment of new production facilities in the agricultural
sector. The main borrower of this credit line is the National

ID: IJTSRD40074 | Special Issue on Innovative Development of Modern Research Page 112