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The government of Uzbekistan intends to attract a loan from Asian Development Bank (ADB) on the realization of the project of optimization of state finances management at the cost of US$20.7 million.
At present the process of talks with ADB about aims, project sides and loan amount is nearly finished. It is expected that the project will be included into the Uzbekistan-ADB program of financial cooperation for 2007 and the committee of directors will take a decision at the end of the current year.
ADB's credit funds are planned to be assigned, first of all, on the creation of unified specialized inform-computer network in Treasury's system, training and retraining of Treasury's staff.
As was said before, the project of reformation of state finances management including optimization of state budget management and Treasury's organizational management has been realized since 2002. In 2006 the law "On Treasury's governmental budget execution" came into force in Uzbekistan which provides legal base for the creation and functioning of Treasury's bodies.
Since 1st of June 2005 the realization of the project of phased transition to governmental budget execution in the Republic's regions has commenced. From the beginning of 2007 governmental budget execution has been implemented in all regions of the Republic.
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Date: Jul 10, 2007
Source: Uzbekistan Today |
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