JICA: development of cooperation for the benefit of the investment attractiveness of Uzbekistan

According to the report of the press service of the Ministry of Investments and Foreign Trade, on August 29 this year, Deputy Prime Minister – Minister of Investments and Foreign Trade of the Republic of Uzbekistan Jamshid Khodjaev received a delegation of the Japan International Cooperation Agency (JICA) headed by Senior Vice President Keiichiro Nakazawa.

The main purpose of the meeting is to discuss the prospects for bilateral cooperation in the implementation of strategically important and socially significant projects.

The Japanese side expressed gratitude for the progressive strengthening of investment cooperation and JICA’s contribution to the socio-economic development of Uzbekistan, which has especially intensified in recent years. It was noted that thanks to trust and strong ties, 13 projects worth 4.7 billion USD are currently being implemented in the country with the assistance of JICA.

During the conversation, the parties substantively discussed the progress of the projects, paying special attention to the priority initiatives for Uzbekistan in the field of agriculture. In particular, the parties noted that within the framework of the first phase of the credit line “Development of the value chain in the horticulture industry (Phase-2)” (200 million USD), more than 300 projects were implemented in Uzbekistan and more than 5 thousand new workers were created places.

As a result of the negotiations, the ceremony of signing the Exchange Notes and the Loan Agreement for the allocation of an additional $200 million for the implementation of the second phase of the credit line “Development of the creation of a value chain in the horticulture industry (Phase-2)” was held. This project provides for the allocation of a credit line to national commercial banks in order to increase the financial stability of farms and specialized organizations, representatives of small businesses and private entrepreneurship, which, in turn, will increase the production of competitive fruits and vegetables in Uzbekistan.