Friday, 02, December, 2022

President Shavkat Mirziyoyev today received the President of the European Bank for Reconstruction and Development Suma Chakrabarti, the presidential press service said.

Shavkat Mirziyoyev expressed his satisfaction with the upward trend of cooperation between Uzbekistan and the EBRD since the previous meeting in Tashkent in March last year.

During this period, the bank allocated credit lines worth over $ 190 million to support SMEs' projects.

The sides are currently developing a tangible package of additional investment projects in financial, agricultural and industrial sectors, as well as the development of municipal infrastructure total worth over $ 1 billion. In addition, the Country Strategy is currently being finalized, and is expected to adopted in September. The bank opened its office in Tashkent last November, with branches in the provinces planned to be set up as well.

EBRD experts took an active part in developing a new order aimed at improving the efficiency of preparation and implementation of investment projects in the country with the participation of international financial institutions.

Joint work is being carried out on a long-term program for reforming the energy sector and development of renewable energy in Uzbekistan.

The meeting discussed the development of reform strategies for key industries, enterprise pre-privatization preparation, the introduction of public-private partnership mechanisms, the integrated development of regions, and the attraction of private investment in the country's economy.

According to the Ministry of Finance, the EBRD chief also held met with Deputy Prime Minister/Finance Minister Jamshid Kuchkarov, Central Bank Chairman Mamarizo Nurmuratov and First Deputy Chairman of the Committee on Assistance to Privatized Enterprises and Competition Development, Nazhmiddinhodja Sharipov.

At the meeting, a memorandum of understanding was signed between the Ministry of Finance, the Central Bank, the State Committee for Competition and the EBRD on cooperation in developing the capital market and financing in national currency in Uzbekistan. The main objectives of the Memorandum are to strengthen the banking and financial sector, develop the capital market in Uzbekistan, improve financial intermediation, and deepen and diversify sources of financing for borrowers, especially SMEs in remote areas.

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