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TASHKENT, August 17 (TCA) — The Uzbek government plans to modernize the irrigation system in the Khorezm province with a loan from the Islamic Development Bank (IDB) in amount of $60 M.

A source in government circles informed Trend News on Thursday, that the government of Uzbekistan has already reached a preliminary agreement with the management of IDB on a joint project for the modernisation of irrigation canals of Tashsakinsk system.

Under the agreement, the Uzbek side will complete the development and coordination of the project's feasibility study by the end of August in order to submit the project to the IDB board of directors for consideration in September.

Uzbekistan joined the IDB in 2003. By the present time the bank allocated about $300 million for the country to realize various projects in the fields of health, education, agriculture, energy, transport and support for private entrepreneurship.

With reporting from Trend News.

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