For this assignment, AARC works with the Ministry of Economy of Uzbekistan under the project financed by ADB. AARC acts as an independent verification agent for

the Affordable Rural Housing Program which is the USD 500 million program that seeks to improve the quality of life in rural areas of Uzbekistan by providing affordable housing.

AARC is responsible for verification of the relevant Disbursement Linked Indicators (DLIs) and selected non-DLIs, that include the following:


1.       Dwelling units constructed in accordance with national quality standards;

2.       Mortgage loan agreements executed with the selected beneficiaries;

3.       Average share of women among home buyers increased;

4.       Climate change risk assessments are performed as an integral part of the site selection process;

5.       Participating commercial banks implement policies and actions to improve collection procedures and governance structure;

6.       Governance, financial management and institutional capacity are strengthened through a time-bound action plan relating to accounting, financial reporting, and internal and external audits;

7.       Procurement action plan for the program is fully implemented;

8.       The program management and performance monitoring system is strengthened.