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15 August 2019

Uzbekistan and AIIB work on $ 1 billion projects

Deputy Minister of Finance of Uzbekistan Jamshid Kuchkarov met with President of the Asian Infrastructure Investment Bank (AIIB) Jin Litsun at the Ministry of Finance.

The parties discussed the current state and prospects of joint projects, and by 2023 a number of promising projects are being developed in the amount of more than $ 1 billion, in the framework of the bank’s priority areas, the press service of the Ministry of Finance said.

As part of the financing of projects, C. Litsun also noted the following priority areas of the Bank, such as the development of the social sphere: provision of drinking water to rural areas, reconstruction of roads, improvement of heating systems, development of the energy sector: modernization of main electric routes, to reduce losses, and increasing the potential of renewable sources in the country, such as the generation of solar and wind energy.

“Uzbekistan is one of our priority partners in Central Asia, and we are ready to make every effort for long-term cooperation on mutually beneficial conditions. We intend to pay special attention to the financing of infrastructure projects, while the Bank’s financing will be allocated for 30 years, the private sector for 20 years”, said Jin Litsun.

In order to strengthen cooperation between the bank and the government and prioritize projects, Ts. Litsun proposed to conduct a diagnosis of the country and, on the basis of this, develop a joint “road map” that would be responsible for ensuring the full implementation and financing of priority projects and programs for the Uzbek side.

Source: kun.uz