Baku, Azerbaijan, July 5
By Fakhri Vakilov- Trend:
The European Bank for Reconstruction and Development (EBRD) put forward conceptual proposals on the systemic transformation of the banking and financial sector of Uzbekistan, Trend reports with reference to the Ministry of Investment and Foreign Trade of Uzbekistan.
The proposals were presented at a meeting with leadership of the Ministry of Investment and Foreign Trade, the Ministry of Finance, the Central Bank and the Agency for State Assets Management. Issues of possible cooperation between the EBRD and Uzbekistan in the framework of the initiative to reform the country's banking sector were also discussed.
The EBRD's proposals for the transformation of the banking and financial sector suggest a thorough diagnosis of the country's commercial banks, mechanisms to optimize asset allocation in order to increase commercial efficiency and formation of a medium and long-term development strategy in a market economy.
Moreover, the proposed format of cooperation provides for post-transformation financial support programs and an increase in the volume of investment attraction into the economy of Uzbekistan.
The parties agreed to hold a number of additional meetings to more specifically work out the proposals.
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