President Shavkat Mirziyoyev yesterday hosted the president of the European Bank for Reconstruction and Development (EBRD), Sumy Chakrabarti.

Shavkat Mirziyoyev, warmly welcoming the guests, noted with deep satisfaction the dynamically developing partnership ties and the mutually beneficial cooperation between Uzbekistan and the EBRD.

This has been the third visit of the EBRD President to Uzbekistan in the last two years.

The portfolio of joint projects is expanding. Over US$ 600 million worth of loan agreements have been signed and priority investment projects are being readied to modernize the energy and utilities infrastructure in Uzbekistan’s provinces, with over $ 100 million invested in private sector projects.

In addition, the elaboration of promising socially significant programs and projects worth about $ 800 million.

branches in Andijan and other provinces are expected to open in addition to the EBRD representative office in Tashkent.

The parties substantively reviewed the main areas for advancing cooperation, including speeding up the ongoing projects and loan deals for promoting economic reforms, creating a favorable business environment and investment climate.

Particular attention is paid to the preparation and holding of the first meeting of the Foreign Investors Council under the President of Uzbekistan.

Suma Chakrabarti confirmed his commitment to continue full support and multi-faceted partnership with Uzbekistan.