BAKU, Azerbaijan, June 29. Uzbekistan's Deputy Prime Minister and Minister of Economy and Finance met with World Bank Vice President for Europe and Central Asia to discuss expanding cooperation on economic reforms, private sector development and sustainable growth.
This was reflected in the statement published by the Ministry of Economy and Finance of Uzbekistan, following the meeting between Uzbekistan's Deputy Prime Minister and Minister of Economy and Finance, Jamshid Kuchkarov and World Bank Vice President for Europe and Central Asia Antonella Bassani on June 29.
The meeting was attended by World Bank Group Executive Director Beatrice Maser, World Bank Regional Director for Central Asia Naji Benhassine, First Deputy Minister of Economy and Finance Ilhom Norkulov and other officials.
The two sides reviewed the progress of ongoing World Bank-supported projects and discussed priority areas for future cooperation, including institutional reforms, macroeconomic stability and measures to strengthen Uzbekistan's long-term economic resilience.
Particular attention was given to cooperation under the Development Policy Operation (DPO) program, which supports the country's reform agenda through policy-based financing and technical assistance. The discussions also covered efforts to expand private sector participation in the economy and attract greater private investment.
The parties reviewed prospects for cooperation under the FINGROW project, which aims to improve access to finance for small and medium-sized enterprises, stimulate investment activity and support job creation.
The meeting also addressed innovation, the development of higher value-added industries, human capital, regional development strategies, public-private partnership (PPP) projects, privatization and improving the management of state-owned assets.
According to Uzbekistan's Ministry of Economy and Finance, the World Bank delegation noted recent improvements in the country's sovereign credit ratings by Fitch Ratings and Moody's, describing them as evidence of progress in strengthening macroeconomic stability and improving the investment climate.
"The World Bank remains a key development partner supporting Uzbekistan's economic transformation through policy advice, investment projects and technical assistance," the ministry said.
The meeting concluded with an agreement to continue implementing existing projects, expand cooperation in priority sectors and maintain close dialogue on new initiatives.
The discussions come as Uzbekistan continues to pursue wide-ranging market reforms aimed at strengthening the private sector, improving fiscal and institutional governance and attracting foreign investment. The World Bank has been one of the country's largest multilateral development partners, supporting projects in infrastructure, energy, agriculture, education and public sector modernization while backing reforms designed to foster sustainable, private sector-led economic growth.
