BAKU, Azerbaijan, Oct. 30
By Klavdiya Romakayeva - Trend:
The World Bank’s Board of Executive Directors has approved a financing package of $50 million for the implementation of the Modernizing National Innovation System Project in Uzbekistan, Trend reports referring to the press service of the World Bank.
Uzbekistan aims to foster innovation as a driver of economic growth and, join the top 50 countries in the Global Innovation Index by 2030. This ambition has acquired even greater importance since the start of the COVID-19 pandemic.
“The new project will help the government develop a market-oriented National Innovation System. It will stimulate collaboration between state agencies, public research organizations, and the private sector in the area of Research and development (R&D), and commercialization of scientific and innovative products and services,” said World Bank Country Manager for Uzbekistan Marco Mantovanelli.
The project will improve the capacity of public research organizations (PROs) to achieve international standards of research quality and enable the commercialization of research results.
Senior and junior researchers from local universities or research institutes will be able to get grants to implement up to 50 R&D sub-projects, including joint ones with international researchers and the private sector.
Research proposals can focus on renewable energy, energy efficiency, low-carbon technologies, and COVID-19-related topics. It is planned that up to 50 papers will be published in internationally peer-reviewed journals, based on research funded by the project.
In addition, up to 30 grants will be allocated among local firms to finance the launch of their knowledge-based startups and invest in R&D of new or existing innovative products and services, which they can sell locally or export.
The project will also invest in the modernization of infrastructure and laboratories of selected Research Institutes that will be identified by the Ministry of Innovative Development (MID) after a full assessment of all candidate institutions.
In addition, the project funds will be used to develop a comprehensive legal framework regulating the issues of R&D commercialization and innovation in Uzbekistan and implement respective institutional reforms.
The World Bank supports Uzbekistan through technical assistance and the financing of 24 projects totaling over $4.45 billion.
They provide support in critical areas such as macroeconomic reforms, agriculture, health, education, water supply and sanitation, energy, transport, social protection, urban and rural development, as well as mitigation of health, economic and social consequences of the COVID-19 pandemic.
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