Uzbekistan Project Notice - Economic Management Improvement Program, Phase 2 (Subprogram 1)


Project Notice

PNR 50300
Project Name Economic Management Improvement Program, Phase 2 (Subprogram 1)
Project Detail The proposed Economic Management Improvement Program, Phase 2 (EMIP II) supports transformation of Uzbekistans state-dominated economy by strengthening fiscal management, improving governance and operations of state-owned enterprises (SOEs), and enhancing public sector accountability. The program is aligned with the Asian Development Bank (ADB) country partnership strategy for Uzbekistan, 2019-2023 and operational priorities of ADBs Strategy 2030 that are (i) strengthening governance, quality, and capacity of public institutions to undertake policy reforms and promote private sector development; (ii) accelerating progress in gender equality; (iii) addressing remaining poverty and reducing inequalities; and (iv) tackling climate change, building climate and disaster resilience, and enhancing environmental sustainability. Project Name Economic Management Improvement Program, Phase 2 (Subprogram 1) Project Number 51350-004 Country / Economy Uzbekistan Project Status Approved Project Type / Modality of Assistance Loan Technical Assistance Source of Funding / Amount Loan 4292-UZB: Economic Management Improvement Program, Phase 2 (Subprogram 1) Ordinary capital resources US$ 150.00 million TA 10092-UZB: Supporting Economic Management Improvement Program, Phase 2 Technical Assistance Special Fund US$ 400,000.00 Strategic Agendas Environmentally sustainable growth Inclusive economic growth Drivers of Change Gender Equity and Mainstreaming Governance and capacity development Sector / Subsector Public sector management / Public administration - Public expenditure and fiscal management - Reforms of state owned enterprises - Social protection initiatives Gender Equity and Mainstreaming Effective gender mainstreaming Description The proposed Economic Management Improvement Program, Phase 2 (EMIP II) supports transformation of Uzbekistans state-dominated economy by strengthening fiscal management, improving governance and operations of state-owned enterprises (SOEs), and enhancing public sector accountability. The program is aligned with the Asian Development Bank (ADB) country partnership strategy for Uzbekistan, 2019-2023 and operational priorities of ADBs Strategy 2030 that are (i) strengthening governance, quality, and capacity of public institutions to undertake policy reforms and promote private sector development; (ii) accelerating progress in gender equality; (iii) addressing remaining poverty and reducing inequalities; and (iv) tackling climate change, building climate and disaster resilience, and enhancing environmental sustainability. The program is designed under a policy-based lending modality with two subprograms. While subprogram 1 focuses on improving the legal, regulatory, and institutional framework, subprogram 2 supports measures for effective and transparent fiscal management; SOE transformation, including strengthening of the competitive environment; and improving anticorruption and audit systems. The programmatic approach allows for comprehensive policy dialogue and flexibility in implementing logically sequenced structural reforms in a multiyear framework. The attached technical assistance (TA) of $250,000 supports the implementation. Project Rationale and Linkage to Country/Regional Strategy Since independence in 1991, Uzbekistan has pursued an import substitution model under a state-dominated economy, driven by commodity exports. Since 2017, Uzbekistan has undertaken structural reforms to facilitate transition towards a market-based economy under its National Development Strategy, 2017-2021 and Roadmap of Reforms, 2019-2021. A set of fundamental macroeconomic and public financial management reforms have been undertaken with support from development partners, including ADBs Economic Management Improvement Program (EMIP). Uzbekistan has maintained sound macroeconomic policies with low risk of debt stress and ample foreign exchange reserves, achieving average gross domestic product (GDP) growth of 6.8% during 2010-2019. Amid the coronavirus disease (COVID-19) pandemic, Uzbekistan had a GDP growth rate of 1.9% in 2020 and 7.4% in 2021 with effective countercyclical response. However, long-standing development constraints prevail.
Funded By Asian Development Bank (ADB)
Sector Oil & Gas
Country Uzbekistan , Central Asia
Project Value UZS 150,000,000

Contact Information

Company Name Ministry of Finance
Web Site https://www.adb.org/projects/51350-004/main

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