Shavkat Mirziyoyev holds talks with EBRD chief

On June 11, 2020, President of the Republic of Uzbekistan Shavkat Mirziyoyev held video conference talks with Suma Chakrabarti, President of the European Bank for Reconstruction and Development.

At the start of the conversation, the head of our state noted with deep satisfaction the high level of relations and the fruitful cooperation of the Republic of Uzbekistan with the European Bank for Reconstruction and Development achieved in recent years.

Thanks to the joint implementation of the provisions outlined in the Bank’s Country Strategy and the Roadmap, the EBRD is currently one of the key partners in promoting priority programs and projects aimed at ensuring sustainable social and economic development in our country.

Today, the project portfolio is about $ 1.2 billion and covers all priority areas. At the same time, a third of all allocated funds are allocated to support the private sector and entrepreneurship, including within the framework efforts to minimize the consequences of coronavirus pandemic in Uzbekistan. In addition, the parties are considering new project proposals worth about $ 1 billion.

The Bank’s experts also have been active in the elaboration of legislative acts and strategic initiatives in promoting the public-private partnership, developing the capital market, reforming the banking system and other sectors of the Uzbek economy.

The EBRD has enhanced its office in Tashkent, and opened one in Andijan. The other, in Urgench, is expected to start activities next year.

Speaking about the practical results of the interaction, the President of our country expressed sincere gratitude to Suma Chakrabarti for his active efforts and great personal contribution to strengthening mutual trust and developing effective cooperation.

In turn, the head of one of the leading international financial institutions, conveying deep appreciation for organizing the meeting in this format, noted the Bank’s strong commitment to the comprehensive support for the ongoing new reform course in Uzbekistan and regional policy in Central Asia, in particular by expanding its portfolio and financial-technical assistance.

Suma Chakrabarti paid tribute to the country’s extensive measures to eliminate the consequences of the emergency in the Syrdarya region and to prevent the wider spread of pandemic in the republic.

During the videoconference, issues of expanding the mutually beneficial cooperation were discussed substantively. Particular attention was paid to the EBRD’s participation in the transformation of state-owned enterprises and the privatization of banks, the promotion of reforms in the energy and hydrocarbon sectors, the effective utilization of allocated loans, and enhancement of business financing, including projects in the textile industry.

Shavkat Mirziyoyev and Suma Chakrabarti agreed to continue with intensive contacts and exchanges, including joint preparation for the Tashkent session of the Council of Foreign Investors and the EBRD Annual Meeting 2023 in Samarkand.