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ADB President Thanks Uzbek Leader for Success of Annual Meeting
May 21, 2010
As has been reported on several occasions, on May
3-4 this year the capital city of Uzbekistan – Tashkent hosted the
43rd Annual Meeting of the Board of Governors of the Asian
Development Bank.
On completion of such a high-profile event – first ever held in
Central Asia and Caucasus – in Tashkent and returning home the
President of the Asian Development Bank Haruhiko Kuroda sent a
message of appreciation to the President of the Republic of
Uzbekistan Islam Karimov.
Here is the full text of this message in English as it has been
kindly provided by the ADB officials at the Office of the President
of the Asian Development Bank. |
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His Excellency Mr. Islam Karimov
President
Republic of Uzbekistan
Your Excellency:
On behalf of the Asian Development Bank and all those who participated
at the recently concluded 43rd Annual Meeting of the Board of Governors
of the Asian Development Bank in Tashkent, I would like to express my
deepest gratitude to you, your Government and the people of Uzbekistan
for the outstanding manner in which the meeting was held. Under your
leadership and with the hard work of your officials, the Meeting was one
of the most successful ever held.
The impeccable organization of the official events under the Uzbekistan
Organizing Committee; the exceptional hospitality of the Uzbek people;
the rich history that your wonderful country offers, and the remarkable
achievements with modern infrastructure were constantly commented upon
by the many participants.
The success of the Annual Meeting clearly demonstrated that the decision
to hold the Annual Meeting in Tashkent was right. It showcased the
economic and social achievements of Uzbekistan, especially the
effectiveness of the anti-crisis measures, the soundness of the
Uzbekistan model of development with gradual reforms and prudence in
fiscal management, and the potential for future development.
Your welcome address at the Opening Ceremony, especially your strategic
vision of post-crisis development of Uzbekistan and Asia in general, was
insightful and visionary. It was appreciated by the many participants
who attended. I would also like to thank Your Excellency for setting out
in your speech the directions for future cooperation between Uzbekistan
and ADB, truly an opportune moment for consideration.
This Annual Meeting also signified the partnership between ADB and
Uzbekistan by signing agreements for financing arrangements exceeding $1
billion and nearly doubling the portfolio size. I can assure Your
Excellency that Uzbekistan will remain ADB's strategic partner in
Central Asia in the time to come. With Uzbekistan's leading role in
regional integration and cooperation, ADB will continue and further
strengthen our utmost support to Uzbekistan.
www.jahonnews.uz
President Islam Karimov meets Korean Finance Minister
May 5, 2010
President of the Republic of Uzbekistan Islam Karimov met with Minister
of Strategy and Finance of the Republic of Korea Yoon Jeung-Hyun, in
Oqsaroy, May 4.
Having welcomed the guest, the head of state expressed satisfaction with
the high level of dynamically developing relations between Uzbekistan
and South Korea and noted in particular: “I well remember our meeting in
Seoul this February. It was a conversation pretty rich in content and
important for us. We even decided to definitely meet in Tashkent in the
course of Your participation in the ADB international forum. |
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Today You are our welcome visitor and dear guest. And the fact that we
have established quite confidential relations with President Lee
Myung-bak furthermore underscores the closeness and trust-based
cooperation that has been forming for many years between the Republic of
Uzbekistan and the Republic of Korea”.
Traditionally, the friendly cultural and economic ties between our
countries, united by common interests and aspirations, are permeated
with a spirit of strategic partnership and a determination to further
strengthen amity between the two fraternal peoples. Regular Uzbek-Korean
summits confirm this time and again. Bilateral contacts serve to jointly
explore promising areas of cooperation and elaborate mutually beneficial
projects in various spheres, particularly biggest of which are
implemented in the hydrocarbon, mining, transport and logistics, banking
and finance, and many other areas.
Republic of Korea is considered one of the most reliable and time-tested
economic partners of Uzbekistan with a joint realization of a number of
strategically important investment projects. One of them, in particular,
is a free industrial and economic zone and international multimodal
logistics center in Navoi. The cooperation with KOGAS Corporation is
particularly noteworthy, especially in the construction of Ustyurt gas
chemical complex aimed at not only field development with high-tech, but
also production of ready products – polyethylene and polypropylene. In
the framework of this project it is intended to attract investments
worth more than 3 billion US dollars.
As a result of the most favored nation regime in economic relations
between Uzbekistan and South Korea, the volume of mutual trade turnover
amounted to 1.2 billion US dollars in 2009 alone.
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During the meeting in Oqsaroy, Yoon Jeung-Hyun
expressed his sincere gratitude to the head of our nation for the
warm welcome, stressing the Korean side’s interest in expanding the
scales of mutually beneficial ties with Uzbekistan. Minister of
Strategy and Finance of the Republic of Korea underpinned that
Tashkent became the site for an international forum of Asian
Development Bank owing primarily to the successfully implemented
Uzbek model of development acknowledged by many leading countries as
effective. |
“In the context of global financial and economic crisis Uzbekistan has
demonstrated the robustness of protective mechanisms inherent in the
national model of economy effectively applied today in practice”, the
guest emphasized.
Issues related to further enhancement of trade, economic and investment
cooperation between Uzbekistan and the Republic of Korea have been
discussed during the conversation.
www.uza.uz
President holds talks with head of World Customs Organization
May 5, 2010
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President of the Republic of Uzbekistan Islam
Karimov met with Secretary General of the World Customs Organization
Kunio Mikuriya, on May 4 in Oqsaroy.
Head of our state, welcoming the guest, said, “Your attendance of
the 43rd Annual Meeting of the Asian Development Bank in Tashkent we
perceive as a sign of respect for Uzbekistan and our region as a
whole. Uzbek customs officials personally feel the practical support
provided by the WTO in the development and introduction of modern
methods and standards to the system and professional training in
this field.
“In Uzbekistan we well understand the effective role played by the
World Customs Organization in elaborating rules and procedures of
international trade”, the President said.
International institutional integration of national
customs structures on such a level was formalized back in 1947 and
currently includes 176 countries. |
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Its core functions are defined as development of trade standards,
perfection of internationally recognized customs rules and procedures,
improvement of the effectiveness of – and development of cooperation
between – customs authorities of member states.
Uzbekistan has fruitfully cooperated with this international
organization since its accession as early as 1992. In particular,
“Development Strategy of Customs Services of the Republic of Uzbekistan
for 2007-2010” was developed in 2007 together with WTO experts, and is
today effectively put into practice. In the framework of this document,
projects are implemented to introduce information technologies and
modern equipment to the work of customs services, to augment the
professional skills of officers in this sphere.
It should be noted that with the initiative of President of Uzbekistan
Islam Karimov, a higher education institution unique to entire region
was established in our country in 2003 that specializes in training
highly qualified specialists in customs service. The national
cynological center of the republic’s customs agency instituted earlier
by the initiative of President Karimov, assumed the status of an
organization of regional standing.
During the meeting in Oqsaroy, Kunio Mikuriya expressed his sincere
gratitude to the head of our state for the warm welcome. “First of all,
I was glad to learn that ADB chose the city of Tashkent for such a forum
first in Central Asia”, Kunio Mikuriya said. “Back in 2002, when I
served as deputy secretary general of WTO, Mr. Tadao Chino who then
headed the ADB, invited me to a ministerial conference in Central Asia
and talked a lot about Uzbekistan and admired You as a farsighted
politician, economist and just a person. Thus, I would like to say Mr.
President, that when I joined the Ministry of Finance of Japan, Tadao
Chino was my principal, mentor, and I went through his school. My
current visit represents a good opportunity to take a closer look at the
life of the republic and the dynamics of its development”.
Secretary General gave his high appreciation of the wide-scale economic
development strategy outlined by President Islam Karimov in his
welcoming address to participants of the 43rd Annual Meeting of ADB
Board of Governors. Kunio Mikuriya pointed out that especially
praiseworthy is the work of customs authorities of the republic in
improving the legislative framework, providing with modern equipment and
technologies, special facilities, which allow to effectively organize
the customs activities.
Issues related to further enhancing the interaction of the Republic of
Uzbekistan with the World Customs Organization have been discussed at
the occasion.
www.uza.uz
Islam Karimov
meets Chinese Finance Minister
May 4, 2010
President of the Republic of Uzbekistan Islam Karimov met with Xie
Xuren, Minister of Finance of the People’s Republic of China, in Oqsaroy
on May 3.
Welcoming the guest, head of our state noted in particular, “I take this
opportunity to thank the President of the People’s Republic of China Mr.
Hu Jintao for a decision to send such a representative delegation led by
You to the 43rd Annual Meeting of the Asian Development Bank in
Tashkent. It will surely provide a corresponding impetus and weight to
an international forum of such level. We in Uzbekistan highly appreciate
and value the close, friendly relations established between our
countries, and know well what lies behind the current growth of China’s
prestige and influence in world affairs, which was laid in the renowned
reforms course by Deng Xiaoping”.
The constructive nature of Uzbek-Chinese summit meetings has proved
particularly critical in the steady development of bilateral relations.
Contacts between specialists and representatives of business circles of
our nations at different levels have been constant and productive.
Uzbekistan and China vigorously cooperate, in particular, in the
framework of Shanghai Cooperation Organization.
The most favored nation regime in trade and economic cooperation between
our countries has been practical since 1994. China has established
itself as one of the major economic partners of Uzbekistan. In 2009, for
instance, mutual trade turnover exceeded two billion US dollars. 223
Uzbek-Chinese joint ventures are active in our country.
During the meeting in Oqsaroy, Xie Xuren expressed his sincere gratitude
to the head of our nation for the warm welcome, highly appraising the
magnitude and practical effect of the Uzbek model of economy and the
anti-crisis program successfully implemented in the Republic of
Uzbekistan.
A thorough exchange of views regarding the prospects for further
expansion of bilateral relations in trade, economic and investment
spheres took place in the course of the talks.
www.uza.uz
President meets
Japanese Deputy Prime Minister
May 4, 2010
President of the Republic of Uzbekistan Islam Karimov met with Japan’s
Deputy Prime Minister, Minister of Finance Naoto Kan on May 3 in Oqsaroy.
“Taking this opportunity, I would like to express my sincere respect to
the leadership and people of Japan. The fact that You personally head
the Japanese delegation at the meeting of Asian Development Bank is a
great honor for us, and at the same time testifies to the consolidating
friendly relations between our countries and peoples year by year
starting from the very first days of Uzbekistan’s independence”, the
head of state said welcoming the distinguished guest.
Today, bilateral relations between Uzbekistan and Japan are developing
rather intensively and entirely in line with the spirit of the 2002
Joint Declaration on Friendship, Strategic Partnership and Cooperation.
Japan has been one of the oldest and most reliable investment partners
of our nation.
The volume of Japanese financial resources drawn into
the Uzbek economy reaches two billion US dollars.
Advancement of economic ties has enjoyed a notable impetus by the work
of bilateral committees on economic cooperation. At their joint
meetings, substantial proposals are singled out to facilitate further
consolidation and expansion of mutual interaction in relevant sectors of
economy and social development.
Representative offices of Japan International Cooperation Agency (JICA)
and Japan External Trade Organization (JETRO) operate today in our
country. They have promoted direct contacts between business circles and
assisted in the development of social, humanitarian, trade and economic
cooperation between our countries. Signed in Tashkent, May 1 in the
framework of 43rd Annual Meeting of the Council of Governors of Asian
Development Bank (ADB), the latest 300-million-dollar loan agreement
between the Government of the Republic of Uzbekistan and JICA has
underscored the consistently enlarging mutually beneficial cooperation.
In Oqsaroy, Naoto Kan thanked the head of our state for the warm welcome
and expressed his high appreciation of the effectively implemented
anti-crisis program and the one on wide-scale modernization of basically
all spheres of life in Uzbekistan.
During the talks it was stressed that ADB’s current international forum
in Tashkent has constituted a good opportunity to discuss and appreciate
the essence of pressing issues of regional and international
significance as well as the further development of investment
cooperation.
www.uza.uz
ADB’s
Tashkent forum: cooperation for development
May 3, 2010
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The opening ceremony of the 43rd Annual Meeting of
the Board of Governors of the Asian Development Bank was held on 3
May at the International Forums Palace “Uzbekistan” in Tashkent.
President of Uzbekistan Islam Karimov made a speech at the opening
ceremony of the forum.
The head of the state said that Uzbekistan highly valued the
growing cooperation with ADB and considered the bank as an important
strategic partner, which in recent years has become a leading
international financial institution for the country both in terms of
its credit portfolio, and in the framework of regional cooperation
in Central Asia. |
The ADB President Haruhiko Kuroda expressed his gratitude to President
Islam Karimov and the people of Uzbekistan for their great support in
organizing the ADB forum – the first meeting of the Board of Governors
ever conducted in Central Asia. The main goal of ADB is to promote
economic and social progress in developing countries of the Asia-Pacific
region, including supporting economic growth, raising living standards,
human resource development, and solving environmental issues,
particularly related to climate change.
Founded in 1966, the Asian Development Bank today possesses large
financial and technical resources. Its members include 67 states, of
which 48 countries are in the Asia-Pacific region, a number of
industrialized countries in Europe, as well as Canada and the USA. The
bank provides financing of development and regional cooperation
projects, and technical support in these areas. Particular attention is
paid to assisting countries that implement socioeconomic policies aimed
at enhancing national potential and quality of life.
Uzbekistan and the ADB have had a long and effective cooperation. The
country became a full member of this largest international financial
institution in 1995. Through implementation of its own “Uzbek model” and
gradual reforms based on five principles set by the head of the state,
Uzbekistan has retained macroeconomic stability and sustained economic
growth.
This is why the decision to hold the important forum of the ADB in
Tashkent was quite logical. The country’s experience in implementation
of the Anti-crisis program developed by President Islam Karimov is being
studied in various countries.
| As a result of effective and timely comprehensive
anti-crisis measures, the GDP growth in Uzbekistan in 2009 amounted
to 8.1 percent. Total investment in national economy grew by almost
26 percent, including foreign investments by 68 percent.
The later figure is especially important, as it proves high
confidence of foreign businesses in the country and the favorable
investment climate. In the first quarter of 2010, foreign direct
investment used in Uzbekistan were 2.6 times more than in the same
period of last year. |
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A distinctive feature of the financial policy of Uzbekistan is the fact
that external borrowing, including ADB credit lines, are attracted on a
long-term basis to fund strategic investment projects included in the
modernization and technological re-equipment program, as well as for
support of small business and private enterprise.
The ADB occupies the first place among international financial
institutions in terms of credit cooperation with Uzbekistan. This
cooperation covers many directions, with joint projects implemented in
strategic areas like transport infrastructure, energy, agriculture,
small business and private entrepreneurship, water resources management,
healthcare, education and others.
Uzbekistan and the ADB are cooperating in expanding the network of
automobile roads and railways, in particular, development of the Uzbek
national highway, which is an important part of the Central Asian
regional transport corridor. One of the major ongoing projects in 2009
was the program of financing the water supply and sanitation sphere
worth USD 300 million. In the framework of a similar project pipelines
are laid and corresponding equipment is being installed in 170
settlements of Kashkadarya and Navoi regions.
Timely fulfillment of obligations to repay the ADB funds increases trust
to Uzbekistan on the world financial markets. In the conditions of the
global crisis, many investors faced insolvency of not only individual
banks, but also entire countries. The banking and financial system of
Uzbekistan, being one of the most stable in the Asia-Pacific region, has
a large reliability reserve. Measures to strengthen the banking system
within the Anti-crisis program allowed to double the banks’ cumulative
capital in the past two years. The level of sufficiency of the banks’
capital currently exceeds 23 percent, which is almost three times higher
than international standards set by the Basel Committee. The total
current liquidity of the banking system is 10 times higher than current
liabilities of banks for external payments.
At the opening ceremony, it was noted that ADB’s support of long-term
economic and social programs in the Asia-Pacific region was carried out
in the framework of global cooperation for sustainable development and
contributes to the world progress in general.
www.uza.uz
Asian
integration and global development considered
May 03, 2010
| “Asian integration and global development” was the
topic of ADB governors’ seminar, held in the framework of the bank’s
43rd annual meeting in Tashkent.
ADB governors from different countries discussed the possibility of
accelerating the integration processes in the Asia-Pacific region, which
are important not only to fully overcome the effects of the global
financial crisis, but also to enhance capacity building in the
post-crisis period. |
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The global crisis has demonstrated the importance of creating a new
financial architecture, developing domestic markets and expanding
economic integration, which creates mutual benefit, said ADB President
Haruhiko Kuroda. Last year, despite the global crisis, Asian countries
showed economic growth. Today, leaders of the region should develop
policies that will promote diversity of national markets, and determine
the most effective ways of development in the framework of G20.
In Uzbekistan, economic progress is based on comprehensive
modernization, with focus on increasing capacity of all economic sectors
and the social sphere, as well as expansion of regional cooperation,
Deputy Prime Minister of Uzbekistan, ADB Governor for Uzbekistan Rustam
Azimov said. The countries of Asia are contributing greatly to the
global economy. At the same time, there is vulnerability of Asian
markets, therefore measures are needed to strengthen Asian countries’
banking and financial sector and harmonize issues that relate to global
system.
According to forecasts, by 2050 up to 50 percent of total world
production will be concentrated in Asia, it was noted at the seminar.
This is why Asian countries should strengthen their integration in
industry, trade, finance, in order to make their economies more
competitive on world markets. To achieve these goals, coordinated action
by governments is required. The global crisis has shown that countries
must be willing to change, to further study the structure of demand and
consumption, to facilitate the establishment of free trade zones and
logistic centers, and to strengthen financial cooperation.
It was stressed that the ADB plays an important role in enhancing the
integration processes in the region, financing key projects that are
important for growth of national capacity and strengthening regional
cooperation. In accordance with its objectives, the ADB annually
increases the volume of its support, which in turn helps sustainable
development in the region and the world at large.
www.uza.uz
Presentation of economic and investment potential of Uzbekistan
May 02, 2010
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The national presentation of the Republic of
Uzbekistan was one of the important events of the 43rd annual
meeting of the Board of Governors of the Asian Development Bank,
which is underway in Tashkent.
After proclamation of independence, Uzbekistan has chosen its own
path of development based on five principles proposed by President
Islam Karimov, which has been recognized worldwide as the “Uzbek
model” of reforms and modernization of the country, said ADB
Governor from Uzbekistan, Deputy Prime Minister, Minister of
Finance Rustam Azimov.
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As a result, the country maintained macroeconomic stability and stable
economic growth, created a reliable financial and banking system,
achieved energy independence and grain. The state budget is
consistently executed with a surplus, growth is observed in all
sectors of economy, new jobs are created and incomes are growing. A
great contribution to the dynamic development of the country is made
by new high-tech industries like automotive, oil and gas, chemical,
electrical and many others.
All this has become a solid foundation for mitigating the negative
impact on the economy of the world financial crisis. Realization of
the Anti-crisis program for 2009-2012 developed by President Islam
Karimov made it possible not only to maintain the previously achieved
results, to continue to diversify production and exports, but also to
lay the foundation for future intensive development. In the structure
of exports, which exceeded USD 11.771 billion, more than 70 percent of
products are with high added value. At the same time, the social
sector every year receives more than 50 percent of the state budget,
which contributes significantly to its strengthening, development of
human capital, including through improvement of educational sphere and
construction of new educational institutions.
The Asian Development Bank highly values its partnership with
Uzbekistan, said ADB President Haruhiko Kuroda. The bank has financed
large projects worth over USD 2.4 billion in the country. Uzbekistan’s
economy has been developing very effectively. It managed to overcome
the negative impact of the global crisis and ensure 8.1 percent GDP
growth in 2009, the head of ADB said.
According to ADB forecasts, in 2010 the Uzbek GDP growth could reach
8.5 percent and 9 percent in 2011, which is one of the highest rates
in the Asia-Pacific region. The ADB’s strategy of cooperation with
Uzbekistan aims at supporting the development of economy and social
sphere.
“We are very grateful to Uzbekistan for its initiatives to enhance
regional cooperation,” said Haruhiko Kuroda, “in particular, for
Uzbekistan’s intention to increase supply of electricity to
Afghanistan, and active participation in the construction of
transnational communications. All of this will contribute to
sustainable development not only of Uzbekistan, but also of the region
as a whole.”
Uzbekistan has large investment attractiveness for foreign business.
It is guaranteed by political and economic stability in the country,
favorable geographical position, accelerated development of all types
of infrastructure, rich mineral base and highly skilled workforce.
Since 2007, the annual growth of total investment, including foreign
ones, in the economy of Uzbekistan has made 20 percent. Together with
international partners, large-scale investment projects are
implemented, including creation of new industries, and modernization
and technological renovation of existing ones.
It is important that reforms in Uzbekistan are based on real
possibilities and potential of the country, said Director General of
the Department of Central and West Asia of ADB Juan Miranda. This is a
key condition for their effectiveness. Thanks to carefully developed
policy, the country has created a buffer to protect the national
economy and the population from the negative impact of the global
crisis. Uzbekistan is open for cooperation, and ADB within its
strategy will continue funding projects in key sectors. Among the new
projects are reconstruction of water supply systems in several cities
of Fergana Valley, development of regional roads, microfinancing small
business, participation of commercial banks in trade financing
program, as well as construction of two combined-cycle plants at
Talimarjan TPP.
An example of effectiveness of the “Uzbek model” of economic
development is the establishment of the free industrial zone in Navoi,
President of Korean Air (Republic of Korea), Chi Chang Hoon said.
Wide opportunities have been created for creation of a
multi-modal logistics center, which will unite Europe, India, China
and Southeast Asia, on the basis of Navoi international airport. In
the past year, about 8,500 tons of cargo was transported on
international routes from Navoi airport, which made it possible to
integrate it into the global logistics network. Rapid development of
Navoi free industrial zone and attraction of foreign investment may
help it become one of the largest Asian economic centers in the near
future.
Development of economic cooperation with Uzbekistan has great
prospects, continued Mike Arcamone, President and CEO of GM DAT, which
has a joint venture in Uzbekistan. Together with Uzbek partners, GM
has stepped up production in the automotive industry. This work also
contributes to growth of human capital. Last year, 1,200 jobs were
created, and training of specialists was established. Uzbekistan runs
a very thought-out economic policy. Much work is being done to develop
the infrastructure – not only in the cities, but also in rural areas,
Mike Arcamone said.
Dynamic progress is observed in realization of joint projects in oil
and gas industry, said head of representative office of Petronas in
Uzbekistan Ilasegeran Nadaraj. The Malaysian oil and gas giant, which
operates in 30 countries, opened its office in Uzbekistan in 2006. At
present, it implements a number of major projects in the regions of
the country with national holding company Uzbekneftegaz. Recently, an
agreement was signed on joint exploration in the Aral Sea region.
Today Uzbekistan is one of the most important partners
of Petronas, and this cooperation will continue expanding, Ilasegeran
Nadaraj said.
www.uza.uz
ADB presents
development effectiveness review
May 02, 2010
The program of the 43rd annual meeting of the Board of Governors of the
Asian Development Bank includes various thematic seminars. One of them,
held at Tashkent’s International Business Center, was devoted to
reviewing the effectiveness of the ADB in 2009.
The seminar participants discussed issues related to improving the
bank’s work, as well as ways and methods of evaluating the parameters of
ADB activities. |
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The speakers noted that ADB used a scorecard in its management system,
approved in 2008. They announced key findings from the review for 2009.
This management system aims to achieve the objectives of the banks’
Strategy 2020.
The system defines the priorities and objectives of ADB. It uses 70
indicators to monitor the development in the region and determine how
ADB is contributing to this development, and how to effectively manage
its activities. Particular attention was paid to the existing problems
in this area and their solution. |
www.uza.uz
ADB seminar
considers 21st-century cities
May 02, 2010
The new trends in urban development were considered at a seminar held in
Tashkent in the framework of the ongoing 43rd annual meeting of the
Board of Governors of the Asian Development Bank. It brought together
experts, scholars and specialists in urban planning from various
countries.
With growth of population on the planet, existing towns are developing
and new ones are being built. More and more mega-cities, which have a
complex infrastructure and a variety of industries that consume
resources and affect the environment, appear on the world map. In this
regard, it was stressed at the seminar, the 21st-century cities should
become leaders in resource saving and environmental protection. |
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Creation of cities where environmentally safe technologies, modern
methods of processing of secondary resources and waste, including
sewage, are widely used has already begun. The example can be found in a
number of countries in the Asia-Pacific region, particularly Japan,
China, Malaysia, the Philippines and others.
The program of the so-called circular economy, based on transformation,
upgrading and re-using of resources, is already being implemented in 15
countries in the region and involves 120 cities. According to speakers
at the seminar, including Hironori Hamanaka, Chair of Board of Directors
of the Institute for Global Environmental Strategies, Tokyo, and Amy
Leung.
Director of East Asia Urban and Social Sectors Division, ADB, such
cities are the cities of the future.
Therefore, it was noted at the forum, the regional states should pay
more attention to this problem, improving relevant legislation, using
market-based instruments to promote the interest of businesses,
including private ones, and society in general in the development of
circular economy.
All this would contribute to achieving sustainable development, this is
why ADB attaches great importance to funding these projects.
“Renewable energy has great prospects in Uzbekistan,” Harrison S. Fraker,
Chair of Architecture and Urban Design at University of California,
Berkeley, said. “In addition to using solar energy, there are wide
opportunities for producing electricity from waste.”
“This is my first visit to Uzbekistan, and I was pleasantly surprised
how beautiful and green the city of Tashkent is. Greenery is a very
important factor for creating a favorable environment for the people,
and it is effectively used in your country,” he added.
www.uza.uz
Uzbekistan, ADB
and JICA sign agreements
May 02, 2010
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The government of Uzbekistan, the Asian Development Bank and the Japan
International Cooperation Agency signed a number of credit agreements on
1 May in Tashkent.
Seven documents inked during the 43rd Annual Meeting of ADB Board of
Governors, are worth a total of USD 1.015 billion and foresee financing
projects in important sectors of Uzbekistan.
Among these projects are reconstruction of water supply system in
Ferghana Valley cities, development of regional roads, support and
microfinancing small business, participation of Uzbek banks in trade
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financing program, as well as construction of two combined cycle gas
turbines at Talimarjan thermal power station.
www.uza.uz
ADB President holds
press conference
May 02, 2010
President of the Asian Development Bank Haruhiko Kuroda held a press
conference during the 43rd Annual Meeting of the ADB Board of Governors
in Tashkent on 1 May.
The head of the international financial institute spoke to local and
foreign media about the modern tendencies of economic development in the
countries of Asia.
The developing countries of this region are reviving their economies
fast after the global economic crisis, he said. |
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Despite many problems remaining unsolved, the revival process has
started. Using additional resources from the total growth of its
capital, the ADB could provide significant assistance to countries that
experienced the negative influence of the crisis.
In 2009, the volume of this support comprised USD 16 billion, which is
42% more than in 2008. This has helped the developing ADB member states
save their principally important expenses for development of healthcare,
education and infrastructure development, which contributed to the
speeding up of the post-crisis revival of the region. The main task for
today, ADB President stressed, is to ensure that this process is stable
in the long-term perspective.
The 43rd Annual Meeting of the ADB is taking place at the moment when
the region’s countries are facing adoption of a number of very important
decisions. On the one hand, they have to carefully develop the strategy
of the fastest revival from the crisis and to take measures to improve
the situation in the monetary and credit system. On the other, they have
to create and develop a system of social protection for softening the
impact of possible future economic crises on low-income population, and
boost response measures for serious ecological challenges, which are
also related to climate change.
Haruhiko Kuroda stressed that to solve all these problems, the countries
of the region have to work together to expand cooperation and deepen
economic integration. This will help the region to become more stable
and bring benefit for economies on all development levels.
Answering journalists’ questions, the ADB President said there are many
lessons that could be learnt from the global crisis. For instance, Uzbek
economy has felt the crisis’s negative influence, however, the impact
was significantly lower than in many other countries.
The government of Uzbekistan adopted timely measures in tax, monetary
and credit policy, supporting industry, export-oriented sectors, small
and private business and social sphere. AS a result, the country could
retain economic growth. The ADB forecasts that the Uzbek economy will
grow 8.5% this year, which is one of the highest figures in the whole
region.
In the framework of the long-term cooperation with Uzbekistan, the ADB
plans to expand its support of the reforms implemented in the country,
Haruhiko Kuroda said.
In conclusion, he expressed gratitude to the leadership of Uzbekistan
for active assistance in organizing the annual ADB forum in the city of
Tashkent.
www.uza.uz
Developing regional integration is essential – ADB seminar
May 02, 2010
 |
Enhancing integration in Asia and the Pacific region was the topic of a
seminar that took place in the framework of the 43rd annual meeting of
the Board of Governors of the Asian Development Bank in Tashkent on
Saturday.
Specialists and experts from leading financial institutions discussed
the most important issues to enhance the economic cooperation among the
countries of the region.
The speakers emphasized the need for further promotion of not only
regional cooperation, but also expansion of global ties of Asian
countries, demonstrating openness, pragmatism and mutual benefit. |
The phrase “Asia without borders” was voiced at the forum, implying a
closer economic interaction of the continent’s sub-regions.
The Asian Development Bank should also intensify partnerships with
global financial institutions like the IMF, the World Bank and others.
Uzbekistan was called a positive example of such partnership – the
country is stepping up cooperation with ADB, World Bank and other
financial institutions.
Uzbekistan became a full member of ADB in 1995. Projects implemented in
the country with ADB participation prove that the cooperation is
expanding. The effective implementation of these projects is possible
thanks to the country’s legal basis and favorable investment climate.
The seminar participants discussed the institutional architecture for
Asia and the Pacific in the 21st century. They considered the optimality
of the present model, the need for strengthening existing regional
institutions and possible creation of new ones.
www.uza.uz
Uzbekistan-ADB cooperation developing dynamically
April 30, 2010
President of Uzbekistan Islam Karimov received President of the Asian
Development Bank Haruhiko Kuroda on 30 April, on the eve of the 43rd
Annual meeting of the ADB Board of Governors, at Oqsaroy residence in
Tashkent.
Welcoming the guest, the head of the state noted that the ADB was
considered one of the most authoritative and influential international
financial institutions, with which Uzbekistan has been connected by ties
of long-standing and reliable partnership. The consistently implemented
strategy of ADB cooperation with Uzbekistan is the proof of that.
“Let me thank you for the choice of Tashkent as the venue for the Asian
Development Bank meeting. Holding an international forum of such level
in Tashkent is a great honor for our country. At the same time, this is
an event of historic significance,” Islam Karimov said. |
 |
“At the latest meetings of governors of the Asian Development Bank, four
large investment project worth over USD 1.14 billion were approved.
These projects cover such important areas as improving transport and
communication infrastructure, drinking water system, development of
communal services, construction of combined-cycle plants at Talimarjan
thermal power station, and support of small businesses and private
entrepreneurship through the country’s commercial banks,” President of
Uzbekistan said.
Uzbekistan, jointly with the Asian Development Bank, is implementing
large projects in priority sectors of economy, which focus on
development of strategically important and vital industries. Effective
implementation of these projects, developed in conjunction with ADB
specialists, has become possible thanks to the country’s legal basis of
reforming and liberalizing the economy, as well as favorable investment
climate.
The 43rd Annual Meeting of the ADB, which starts its work in Tashkent
these days, is the first forum of such level in the region of Central
Asia and is a recognition of the effectiveness of the “Uzbek model” of
development by the international community. On 2-4 May, the meeting of
finance ministers of ASEAN+3 will also be held in Tashkent, where the
ADB’s Strategy 2020 will be discussed, along with issues of reforming
the global financial architecture, regional cooperation and post-crisis
development in Asia, protection of the environment and climate change.
The leading experts and reputable international financial institutions,
including the Asian Development Bank, acknowledge that the current level
of economic development of Uzbekistan is an example of stable state of
basic indicators and stable dynamics of economic growth in the
conditions of global recession.
Haruhiko Kuroda emphasized that Uzbekistan was one of the few countries
in the world where stable economic and social development rates were
ensured. In his opinion, the basis for success of the “Uzbek model” is
also the fact that the leadership of Uzbekistan did not rely solely on
external borrowing, but has taken active steps to diversify the economy
and ensure rational management of rich mineral, industrial and
agricultural resources and, most importantly, the powerful and highly
intellectual human potential in modern conditions.
The ADB President expressed his sincere gratitude to the President of
Uzbekistan for the warm reception, assuring of the ADB’s commitment to
further expand and develop partnership relations with Uzbekistan in
various sectors of economy and social development.
www.uza.uz
President of
Uzbekistan receives World Bank VP
April 30, 2010
|
|
President of Uzbekistan Islam Karimov received World Bank Vice-President
for Europe and Central Asia Philippe Le Houérou at Oqsaroy residence in
Tashkent on 30 April.
Welcoming the guests, the head of the state emphasized the strategic
character of jointly implemented projects in priority sectors of the
country’s economy and consistent expansion of cooperation between
Uzbekistan and the World Bank. |
“Participation of the World Bank representatives in the Asian
Development Bank’s annual meeting in Tashkent confirms the high level of
relations between Uzbekistan and the World Bank,” President Islam
Karimov said.
Participation of a high-profile delegation of the World Bank and several
other foreign banking and financial institutions in the 43rd ADB Annual
Meeting, which opens in Tashkent, is noteworthy.
| This again demonstrates the broad recognition by
the international community of the efficiency of the Anti-crisis
program implemented in the country and the “Uzbek model” of
economic development.
In cooperation with this leading international financial
institution, about 20 projects in various sectors of the economy
and social development are being successfully implemented. They
cover areas like structural changes in agriculture, rehabilitation
of irrigation and drainage systems, modernization of communal
services, as well as improving healthcare and education, and
environmental protection. |
 |
At the meeting in Oqsaroy, Philippe Le Houérou expressed his sincere
gratitude to the head of the state for the warm reception and noted that
holding an international forum of such level in Uzbekistan, which is an
example of stable economic growth in the conditions of the global
financial crisis, had a particular importance. He also stressed that the
present ADB meeting would be another proof of the investment
attractiveness and confirmation of the correctness of further
modernization of Uzbekistan.
During the talks, the sides exchanged views on the implementation of
joint projects and prospects for further development of cooperation
between Uzbekistan and the World Bank.
www.uza.uz
ADB Expands Financing
April 30, 2010
Board of directors of Asian Development Bank approved a $350 million
credit package for installation of a 800 MW propane-butane turbine at
Talimarjan power plant.
This will help raise the power generation efficiency from 30% to more
than 50% as well as save the fuel and reduce the emissions of carbon
dioxide by 1 million tons per year.
As sources from ADB informed, the cost of the project is $1.28 billion.
Apart from the ADB loan, the project will also be funded by Japan
International Cooperation Agency ($300 million). The rest $630 million
will be financed by the government of Uzbekistan, Reconstruction and
Development Fund of Uzbekistan and Uzbekenergo company.
The ADB board of directors has also approved a $50 million loan for
three Uzbek banks: Bank Ipak Yuli, Hamkorbank and Agrobank and a
$600,000 grant.
The credit lines will be issued within the frameworks of the second
project on the development of small- and microfinance services.
The banks will provide loans to small and micro businesses toward
projects involving manufacture and sale of goods, services and
commercial activities as well as toward investment purposes.
It is projected to provide training courses for some 1,000
loan-recipient entrepreneurs and create 30,000 additional jobs. This
will contribute to the economic growth and improvement in living
standard.
As ADB remarked in the press release, Hamkorbank and Agrobank will get
by $20 million and Bank Ipak Yuli will get $10 million. Under the terms,
the participating banks will allocate their own resources for the
project in the amount equal to the loans provided by ADB.
www.ut.uz
Within Business Partnership
March 26, 2010
ADB ranks first among the international financial institutions by the
volume of acting lending portfolio in Uzbekistan.
During 15 years of cooperation ADB allocated $1170.9 million to
Uzbekistan for the implementation of 25 projects.
Numerous projects in spheres of transport infrastructure, energy sector,
agriculture and municipal engineering, small and private business as
well as higher, secondary and professional education were carried out in
our country in collaboration with ADB.
The purposefulness and forwardness of the partnership is clearly
observed in the phasing of implementing projects.
The cooperation between Uzbekistan and ADB is also developing in the
network of multilateral relations. The direction of the bank coordinates
the activity of other international financial establishments in sphere
of the development of regional cooperation in Central Asia in such
priority directions as energy sector, commerce and transport
infrastructure.
It is expected that on the 43th Annual meeting of ADB which will take
place in Tashkent in 1-4 of May 2010 will be discussed the progress
achieved within the long-term strategic program of ADB adopted in 2008.
During the meeting it will be also examined other themes including the
reformation of global financial system, post-crisis development of Asian
countries, the climate changing etc.
In future, cooperation in the sphere of development of railway system
and motor roads as well as the activation of the work on the perfection
of the water supply system in the regions of the country is to be
established between Uzbekistan and ADB.
www.ut.uz
Credit for
Investment Project
March 12, 2010
Today, the Asian Development Bank (ADB) is one of important
international partners of Uzbekiston Temir Yollari (Uzbekistan Railways)
state joint-stock railway company.
To date, the result of this active cooperation has been a large-scale
work for the rehabilitation of about 700km of trunk railway in the
country, as well as modernization of telecommunication systems and
creation of a fiber optic line. Using its own funds as well as those
borrowed from the ADB, Uzbekiston Temir Yollari (Uzbekistan Railways)
state joint-stock railway company also purchased modern track machines
and mechanisms.
The next stage of the Project “Modernization of Railways of Uzbekistan”
at the expense of the second ADB loan has began in 2002. The project
also plans creation of a fiber-optic line that would held to modernize
the telecommunications network and implement an effective network and
information systems management.
According to experts, as a result of completing the railways’
rehabilitation more efficient cargo and passengers transportation was
promoted, volume of transit traffic grew as well as increased the speed
of freight trains’ delivery timing.
In order to reduce operational costs and equipment of modern technology,
Uzbekistan Railways plans to attract in the future the ADB loan in the
amount of US$20 million for the investment project “Upgrading the Fleet
of Railway Track Machines and Mechanisms”.
Uzbekistan, ADB expand cooperation
18.02.2010
| Uzbekistan became the member of the Asian
Development Bank in August 1995. The ADB is one of the reliable and
active partners of Uzbekistan in the process of implementation of
economic reforms. The bank is continuously implementing its strategy
and program of cooperation with Uzbekistan.
Since 1995, the ADB has provided loans worth over USD 1.2 billion
to Uzbekistan. These funds were used for implementation of 29
strategic projects in the fields of transport infrastructure,
energy, agriculture and communal services, small business, as well
as education. |
 |
Besides, the ADB provided grants worth over USD 32 million to
the country as technical assistance. The bank occupies the first place
among the international financial institutions in financing projects in
Uzbekistan.
At present, Uzbekistan and the ADB are planning implementation of 19
priority projects in the framework of the new three-year financial
cooperation program. These projects aim at improvement of the population
with drinking water, improvement of lands, equipment of schools,
introduction of IT in education, modernization of transport
infrastructure, and supporting small business. The bank is expected to
allocate a USD 693 million credit for this purpose.
The cooperation between Uzbekistan and the ADB is also developing in
the framework of multilateral relations. The bank coordinates the
activities of other international financial organizations in the field
of development of regional cooperation in Central Asia in priority
directions like energy, trade and transport infrastructure.
On 1-4 May, the ADB will hold its 43rd Annual meeting in Tashkent,
which will be the first such forum in Central Asia.
www.uza.uz
President of
Uzbekistan receives head of ADB
|
16.02.2010
President of Uzbekistan Islam Karimov received President of the Asian
Development Bank Haruhiko Kuroda at Oqsaroy residence in Tashkent on 16
February.
Welcoming the head of ADB, President Karimov said that Uzbekistan was
actively cooperating with many international financial institutions, and
that ties with ADB were especially important for the country.
Being a long-time reliable partner of Uzbekistan, the ADB, jointly with
Uzbek specialists, continuously develops and implements the strategy of
cooperation in many sectors of the country’s economy. |
 |
The 43rd Annual meeting of the ADB, scheduled for 1-4 May in Tashkent,
will be the first such forum in Central Asia, which demonstrates the
acknowledgement of the effectiveness of the Uzbek model of reforms by
the international community.
Since 1995, when Uzbekistan became a full-fledged member of the ADB, the
country has received credit resources worth over USD 1.2 billion, which
were used for implementation of strategically important projects in
transport infrastructure, energy, agriculture, education, small business
and other areas.
Today, the ADB tops the list of international financial organizations
cooperating with Uzbekistan in terms of the volume of the provided
credits.
At the negotiations at Oqsaroy residence, Haruhiko Kuroda affirmed the
ADB’s intent to expand the scale of cooperation with Uzbekistan in
various sectors of economy.
Islam Karimov and Haruhiko Kuroda discussed issues of further
strengthening of cooperation between Uzbekistan and the ADB, as well as
other topic representing mutual interest.
www.uza.uz
Tashkent Prepares
to Host ADB Annual Meeting
15.01.2010
The International Forum will gather about 3,000 foreign guests
As we informed earlier, the Annual Meeting of the Asian Development Bank
will take place in the capital of Uzbekistan this year. About 3,000
guests are expected to visit Tashkent to participate in this
international forum including heads of governments, presidents of
central banks, ministers of finance, as well as representatives of
business, academic circles and civil society.
The Asian Development Bank (ADB) will hold its 43rd Annual Meeting on
1-4 May 2010 in Tashkent, Uzbekistan. It will be the first time a member
country from Central Asia will host the event.
According to the organizers, the 2010 Annual Meeting will take stock of
progress made under Strategy 2020, ADB’s long-term strategic program,
adopted in 2008, which lays out its core goals through to 2020. Many
other topics will be covered during meeting events, including
reformation of the global financial system and post-crisis development
in Asian countries. The agenda includes a number of presentations of
several countries and seminars dedicated to Uzbekistan.
The ASEAN+3 Finance Ministers meeting will be held in Tashkent
concurrently.
The ASEAN+3 is the abbreviation of the mechanism of cooperation between
ten ASEAN member-countries and three countries in the Eastern Asia:
China, Japan and the Republic of Korea.
Uzbekistan has received $1.1 billion in 26 loans and $35.5 million in
technical assistance since joining the ADB in 1995. 67 countries are
currently the ADB members; 48 of them are situated in the region itself.
www.ut.uz
Asian Development Bank to Hold 43rd Annual Meeting in
Tashkent ADB is an
international development finance institution whose mission is to help
its developing member countries reduce poverty and improve the quality
of life of their people.
Headquartered in Manila, and established in 1966, ADB is owned and
financed by its 67 members, of which 48 are from the region and 19 are
from other parts of the globe.
ADB's main partners are governments, the private sector, nongovernment
organizations, development agencies, community-based organizations, and
foundations.
Under Strategy 2020, a long-term strategic framework adopted in 2008,
ADB will follow three complementary strategic agendas: inclusive growth,
environmentally sustainable growth, and regional integration.
In pursuing its vision, ADB's main instruments comprise loans, technical
assistance, grants, advice, and knowledge.
Although most lending is in the public sector - and to governments - ADB
also provides direct assistance to private enterprises of developing
countries through equity investments, guarantees, and loans. In
addition, its triple-A credit rating helps mobilize funds for
development.
Article 28 of the ADB Charter vests all the powers of the institution in
the Board of Governors, which in turn delegates these powers to the
Board of Directors, except for those powers reserved for the Board of
Governors in the Charter.
The Board of Governors meets formally once a year in ADB's Annual
Meeting.
The Forty-Third Annual Meeting of the Board of Governors of the Asian
Development Bank will be held in Tashkent, Uzbekistan from Monday, 3 May
to Tuesday, 4 May 2010.
Source: adb.org
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