Uzbekistan, one of the world's largest cotton exporters, is targeting loans and foreign investments worth $1.23 billion between now and 2009 to help build the country's textile industry.

According to a government resolution reported by local media, 94 projects to upgrade existing textile factories and build new ones will generate an overall annual capacity of 329,900 tonnes of yarn, 34,800 tonnes of knitted fabric, 144.4 million metres of textiles and 252m knitwear and garment items.

Between 1991 and 2004, Uzbekistan attracted more than $1.0bn in foreign investments and loans in the textile industry.