TASHKENT, Oct. 5 (Xinhua) -- The World Bank announced in a statement on Friday that it has approved a loan of 800 million U.S. dollars to support Uzbekistan's reform agenda.

"The World Bank's Board of Executive Directors approved a financial package of 800 million dollars in highly concessional loans to support Uzbekistan's reform agenda geared towards advancing the country's transition to an inclusive and resilient market economy," said the statement.

The reform program, led by the Uzbek government, aims to improve Uzbekistan's business environment, boost efficiency in agriculture, railways, and energy sectors, enhance public finance management, expand social protection services, and strengthen the country's preparedness for environment and climate change risks, it said.

The financing offers the Uzbek government low-cost, long-term repayment options more favorable than those available in international financial markets. As a result, Uzbekistan will benefit from lower loan repayment costs, freeing up more budget resources for its social and economic priorities. Enditem

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