TASHKENT, Uzbekistan, October 22. Uzbekistan’s Minister of Economy and Finance, Jamshid Kuchkarov, held a meeting with Yingming Yang, Vice-President of the Asian Development Bank (ADB), to review opportunities for expanding cooperation, developing new economic sectors, and promoting sustainable growth, Trend reports.
The meeting was attended by Timur Ishmetov, Chairman of the Central Bank of Uzbekistan; Ilhom Umrzakov, Deputy Minister of Economy and Finance; as well as representatives of the ADB and other senior officials.
The discussions focused on several key areas:
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Introducing new mechanisms to enhance energy efficiency within the framework of green economy development, including the establishment of an ESCO market;
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Supporting the activities of the Uzbek Mortgage Refinancing Company (UzMRC) and expanding its role in the capital market;
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Promoting the development and digital transformation of small and medium-sized enterprises (SMEs);
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Advancing Public-Private Partnership (PPP) projects and applying international best practices in this field.
The meeting highlighted the importance of green growth and innovative solutions in shaping Uzbekistan’s new economic model. The parties discussed advancing joint initiatives through the ADB’s technical assistance, expertise, and the adoption of global best practices.
Both sides agreed to further deepen cooperation in promoting sustainable development, introducing new technologies, and stimulating private sector participation in Uzbekistan’s economic growth.
Currently, the joint project portfolio between Uzbekistan and the Asian Development Bank totals $14 billion, covering priority sectors such as green energy, transport, digital transformation, education, and other strategic areas