Uzbekistan and World Bank expand partnership as project portfolio tops $12 billion

The meeting focused on further expanding the wide-ranging strategic cooperation between Uzbekistan and the World Bank, with particular emphasis on the global financial institution’s support for the country’s economic reform strategy. At the start of the meeting, Anna Bjerde conveyed greetings and best wishes from World Bank President Ajay Banga to Shavkat Mirziyoyev.

It was noted that in recent years, the partnership has reached a high level and yielded significant results. Today, Uzbekistan is one of the World Bank’s largest partners, with a project portfolio exceeding $12 billion. The World Bank provides financial, advisory, and technical assistance for the implementation of reforms aimed at ensuring sustainable development across key sectors of the economy and social sphere.

With the Bank's support, mechanisms for implementing projects involving international financial institutions have been improved. A new framework has been adopted to accelerate project preparation and enhance quality. Future areas of practical cooperation will prioritize poverty reduction, especially through job creation for women and youth in the tourism sector, support for the private sector and public-private partnerships, as well as the transformation and privatization of state-owned enterprises.

The sides also discussed cooperation plans in areas such as reducing carbon emissions, urbanization and infrastructure modernization, enhancing energy efficiency, improving the investment climate, and supporting Uzbekistan’s accession to the World Trade Organization (WTO).

The parties exchanged views on advancing major regional projects as well.

Earlier, it was reported that the World Bank would provide Uzbekistan with $153 million in concessional loans and grants.