President of Uzbekistan discusses issues of enhancing mutually beneficial cooperation with the IFC delegation

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September 15, 2021

President of Uzbekistan discusses issues of enhancing mutually beneficial cooperation with the IFC delegation

On September 14, President of the Republic of Uzbekistan Shavkat Mirziyoyev received a delegation from the International Finance Corporation led by Managing Director Makhtar Diop.

The President of Uzbekistan highlighted the dynamically developing fruitful cooperation and strengthening strategic partnership with the World Bank Group, which also includes the Corporation.

Thanks to open and constructive dialogue, a mutual desire to bring interaction to a qualitatively new level, the current portfolio of joint projects with the participation of the World Bank in Uzbekistan has reached $5 billion, covering all priority areas and sectors of the country’s economy.

In 2016, the IFC resumed its activities in Uzbekistan. During this period, the volume of the Corporation’s operations has tripled and amounted to about $200 million.

Currently, important projects are being implemented to develop a public-private partnership system, modernize transport, transform the banking sector, reform microfinance institutions, introduce international standards in textile production and other key areas.

During the talks, the main attention was paid to expanding the IFC’s participation in programs and projects to support reforms in the spheres of healthcare and education, including by improving the management system and digitalization of processes.

In addition, the importance of developing cooperation in entrepreneurship, the introduction of effective business financing mechanisms, best practices in the privatization of state-owned enterprises and the development of the PPP system, as well as green technologies, including support for innovative projects in energy and agriculture in Uzbekistan, was noted.

An agreement was reached to prepare a joint roadmap and hold regular expert meetings.