Tuesday, 03, October, 2023

The President of the European Bank for Reconstruction and Development (EBRD), Odile Renaud-Basso, will visit Uzbekistan on 23-24 March to meet with senior government officials and clients and to participate in the Tashkent International Investment Forum.

In a two-day programme, President Renaud-Basso will have meetings with Uzbekistan’s senior leadership, including President Shavkat Mirziyoyev, Deputy Prime Minister, Minister of Investments and Foreign Trade and EBRD Governor Sardor Umurzakov, Deputy Prime Minister Jamshid Kuchkarov and Minister of Energy Alisher Sultanov.

The EBRD President will also address the Tashkent International Investment Forum and talk about the impact of the war on Ukraine on the global, regional and national economy. Most Central Asian states are now facing an increase in food commodity prices, the devaluation of their national currencies and a reduction in remittances from Russia.

The EBRD President will highlight the long-term efforts of the Bank and the government of Uzbekistan to achieve the carbon neutrality of the country’s power sector by 2050. She will also sign a number of deals aimed at supporting Uzbekistan’s sustainable infrastructure, as well as its banking sector and foreign trade.

During her visit, President Renaud-Basso will hold meetings with private-sector investors, as well as representatives of the diplomatic community and civil-society organisations.

The President said: “This is my first official visit to Central Asia’s most populous state and one of the largest countries in which the Bank invests. It will be a chance to discuss the impact of the regional economic downturn caused by the war on Ukraine. We will also take stock of our ongoing initiatives in Uzbekistan in the fields of decarbonisation, digitalisation, economic inclusion. It will also be an opportunity to discuss the reform agenda, including the restructuring towards privatisation of state owned banks and enterprises across key sectors. Our support for grassroots businesses here in Uzbekistan and across Central Asia is more important than ever.”

In 2021, the EBRD invested almost US$ 690 million (€607 million) in 22 projects in Uzbekistan, making it the largest recipient of Bank funding in the region for the second year running.

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