EBRD intends to develop cooperation with Uzbekistan

On November 15 this year, Deputy Prime Minister – Minister of Investments and Foreign Trade of the Republic of Uzbekistan Jamshid Khodjaev received the Managing Director of the European Bank for Reconstruction and Development (EBRD) for Central Asia Zhuzhanna Hargitai and the head of the EBRD office in Uzbekistan Alkis Drakinos.

During the meeting, representatives of the Bank gave a high assessment of the effectiveness of socio-economic transformations in Uzbekistan and expressed their intention to continue financial and technical support for modernization processes in the fields of energy, infrastructure development, irrigation and other areas.

The broad participation of the EBRD in the implementation of reforms aimed at improving housing and communal services, energy and water supply was announced. From 2018 to date, the EBRD has signed agreements on 14 projects in Uzbekistan to support these sectors. In addition, the portfolio of new investment projects consists of 7 – in the amount of more than 724 million dollars.

An agreement was reached to intensify interaction between the formed working groups in the framework of the preparation and holding of upcoming events at a high organizational and substantive level.

During the conversation, the Bank’s interest was expressed in promoting reforms to strengthen the institutional structure of the irrigation sector in Uzbekistan, referring to the financing of the project “Modernization of 118 pumping stations in Andijan, Namangan and Fergana regions”, worth $200 million. An agreement was reached to sign a Memorandum of Understanding on the joint implementation of this project.

Following the meeting, the parties expressed their commitment to deepening further cooperation in the framework of the high-quality implementation of current projects and the development of new areas of strategic partnership.