Baku, Azerbaijan, May 18
By Fikret Dolukhanov – Trend:
World Bank Group President Jim Yong Kim met with Uzbek President Shavkat Mirziyoyev to discuss Uzbekistan’s social and economic transformation and to reaffirm the World Bank Group’s support for reforms to accelerate economic growth and boost shared prosperity, the press service of the World Bank said in a statement.
The meeting in Washington, DC took place on the margins of Mirziyovev’s first official visit to the United States on May 17.
“I’m very impressed with Uzbekistan’s wide ranging and ambitious reforms. The World Bank Group will continue to provide expertise and financing to support the country’s ambitious development agenda and advance the government’s efforts to build a brighter future for all the people of Uzbekistan,” Kim said.
At the meeting, loan agreements were signed, providing $940 million in financing for four new projects in Uzbekistan, focusing on energy efficiency, horticulture, and emergency medical services. They are part of $2.8 billion in World Bank projects under implementation supporting transportation, education, agriculture, irrigation and water supply and sanitation services aimed at boosting economic growth and improving living standards. A memorandum of understanding between the World Bank and Uzbekistan was also signed, reinforcing collaboration.
One International Finance Corporation advisory services agreement was also signed. The Transaction Advisory will structure a public-private partnership (PPP), to attract private investors to finance, design, build and operate solar plants in Uzbekistan and help mobilize up to $1 billion of investment.
Uzbekistan’s social and economic transformation has also generated new momentum among Central Asian countries for greater regional cooperation in energy, transport, water, and economic connectivity.
The World Bank Group is re-aligning its country partnership framework to respond to the government’s reforms. The goal is to help Uzbekistan develop market economy, reform state institutions, broaden citizen engagement and invest in human capital through education, health and social protection systems.
---
Follow the author on Twitter: @FDolukhanov
