Uzbekistan and the European Bank for Reconstruction and Development (EBRD) are preparing $ 1.5 billion worth of joint projects, Uzbek Foreign Minister Abdulaziz Kamilov said.
Speaking in the Senate, Kamilov noted that Uzbekistan is stepping up its cooperation with the EBRD.
The minister added that these projects will be implemented in transport and utility infrastructure, banking and small business sectors.
Uzbekistan joined the EBRD in 1992. The Bank has implemented 55 projects in the country, investing a total of nearly 900 million euros. The last EBRD strategy for Uzbekistan was adopted in the summer of 2005, and the last project was completed in 2007.
At present in Uzbekistan, EBRD is focusing only on the support of the existing investment portfolio, which amounts to 8 million EUR in 5 projects.