Friday, 23, August, 2019

On July 17, 2019, as part of the visit of the Uzbekistan government delegation to the United States, the First Deputy Chairman of the Senate Sodiq Safoev held talks with the Vice President of the World Bank Ceyla Pazarbasioglu, who was joined by lead experts of the International Finance Corporation.

C. Pazarbasioglu said that the World Bank sees as priority the development of cooperation with Uzbekistan, and highly commended and expressed support to the current reform efforts in Uzbekistan, as well as to its role in ensuring the economic progress of the Central Asian region.

The parties discussed the joint development and implementation of the Uzbekistan’s capital market development strategy, which provides for an integrated approach to the implementation of reforms in this area, by integrating into the global capital market, increasing efficiency in managing the assets of state-owned companies, introducing derivative financial instruments such as commodity futures, creating a favorable financial market infrastructure and business environment, as well as issuing securities in the local market, involving both local and foreign investors.

Following the meeting, an agreement was reached on organizing a visit by experts from the World Bank and the International Finance Corporation to Uzbekistan for a detailed discussion of joint actions aimed at developing and implementing the Strategy.

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