Baku, Azerbaijan, June 25
By Fakhri Vakilov- Trend:
The Asian Development Bank (ADB) has endorsed a new Country Partnership Strategy (CPS) for Uzbekistan, Trend reports with reference to ADB.
The 5-year partnership strategy, from 2019–2023, supports the government’s ongoing reforms to help the economy’s transition towards a more inclusive and market-driven growth path.
Under the new CPS, ADB will support the government’s long-term objectives to improve the quality of people’s lives and enable the creation of quality jobs. Its country operations will support private sector development, reduce economic and social disparities, and promote regional cooperation and integration.
ADB will help make cities and villages outside Tashkent more livable through rural development and improving access to finance of small and medium-sized enterprises, particularly those owned or led by women.
Bank will also support the livestock, horticulture, and irrigation sectors to create jobs and improve sources of income.
It will boost its support for regional cooperation initiatives, benefiting Uzbekistan. It will promote regional power trade within the Central Asia Power System and regional connectivity along major corridors of the Central Asia Regional Economic Cooperation (CAREC) countries.
“ADB’s new partnership strategy is closely aligned with the government’s objectives to provide a more inclusive and sustainable future to the people of Uzbekistan. Through the CPS, we will continue our support in improved water supply and sanitation, better roads and railways, enabling horticulture production and export, efficient irrigation systems, and supply of reliable electricity for homes and businesses,” ADB Country Director for Uzbekistan Cindy Malvicini said.
The bank will support efforts to create a more conducive environment for the private sector through public–private partnership projects. Uzbekistan’s economy is heavily dominated by state-owned enterprises, limiting opportunities for the private sector. ADB will also help key state-owned companies to improve their financial management and governance.
The CPS is in line with ADB’s Strategy 2030, which sets the course for the bank to effectively respond to the changing needs of the Asia and Pacific region. In Uzbekistan, ADB will strengthen governance and institutional capacity; address remaining poverty and reduce inequalities; promote rural development; and foster regional cooperation and integration.
Since joining ADB in 1995, Uzbekistan has received 72 loans totaling $7.7 billion, including two private sector loans totaling $225 million.
In 2018, ADB committed five loans totaling $1.1 billion to improve power generation efficiency, primary health care services, access to finance for horticulture farmers and businesses, access to drinking water in the western part of Uzbekistan, and economic management in the country.
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