The Government of Japan is partnering with IFC to help modernize the country’s cotton and fertilizer industries and support economic growth.
Almost $2 million from the Comprehensive Japan Trust Fund will help IFC deliver two modernization initiatives. One project aims to improve cotton farming and labor practices in Uzbekistan’s cotton sector by developing and introducing a sustainable cotton standard system with market and demand-driven incentives.
The Government of Japan is also supporting IFC to work with the Government of Uzbekistan to create a level playing field in the fertilizers sector and to foster the enabling environment needed to attract international companies to invest in a sustainable chemical industry.
“The Government of Japan expects these two projects will help reform these historically significant industries with international standards and valuable input from IFC. We hope the projects can attract more foreign investment and trade into these sectors, including those from Japanese companies,” said H. E. Mr. Yoshinori Fujiyama, Japan’s Ambassador to Uzbekistan.
IFC’s Regional Manager for Central Asia, Cassandra Colbert, said, “Uzbekistan’s cotton and fertilizers sectors are critically important to the country’s economic growth. Thanks to financial support from the government of Japan, IFC’s projects will continue to help modernize these sectors, strengthening them so that they can support the country’s growth and develop its export potential.”