President of Uzbekistan holds talks with EBRD Director

President of Uzbekistan Shavkat Mirziyoyev held virtual talks with President of the European Bank for Reconstruction and Development Suma Chakrabarti. Mirziyoyev praised the high level of relations that have been achieved in recent years and the fruitful cooperation between Uzbekistan and the organization.

Due to the joint implementation of the Bank's Country strategy and the road map, the EBRD is now one of the key partners in promoting priority programs aimed at ensuring sustainable socio-economic development in Uzbekistan.

The portfolio of EBRD projects in Uzbekistan to date amounts around $1.2 billion and includes all priority spheres. The project proposals for around $1billion are being prepared by the sides.

A third of all funds are channelled to support the private sector and entrepreneurship, including to minimize the negative consequences of the coronavirus pandemic in the Republic.

The Bank has expanded its representative office in Tashkent and opened an office in Andijan. The office in Urgench is expected to start operating next year.

Speaking about the results of cooperation, Mirziyoyev has extended his gratitude to Suma Chakrabarti for his active efforts and great personal contribution to strengthening mutual trust and developing effective cooperation.

Chakrabarti, in turn, has expressed deep gratitude for organizing the meeting and stressed the Bank's firm commitment to fully support the ongoing new course of reforms in Uzbekistan and regional policy in Central Asia, in particular by expanding the portfolio and volumes of financial and technical assistance.

Suma Chakrabarti also highly appreciated the comprehensive measures taken in the country to eliminate the consequences of the disaster in the Syrdarya region and preventing the spread of the pandemic in the Republic.

The parties also discussed the EBRD's participation in the privatization of state-owned enterprises, supporting the reforms in the energy sector and the oil and gas industry, effective use of allocated loans, and expansion of business financing, including projects in the textile industry.

The agreement was reached to continue contacts and exchanges, including the joint preparation of the meeting of the Board of Foreign Investors in Tashkent and meeting of EBRD Board of Governors in Samarkand in 2023.