BAKU, Azerbaijan, July 28. Uzbekistan's National Agency for Perspective Projects (NAPP) discussed cooperation with the International Finance Corporation (IFC) and the World Bank Group Treasury on developing the country's domestic capital market, including the possible issuance of local-currency bonds by the two institutions.
This was reflected in the statement by the Uzbekistan's National Agency for Perspective Projects (NAPP).
The discussions took place during a meeting between NAPP officials and a delegation comprising representatives of the World Bank Group Treasury and the IFC's office in Uzbekistan.
According to the agency, the sides reviewed prospects for issuing IFC and International Bank for Reconstruction and Development (IBRD) bonds denominated in Uzbekistan's national currency on the country's domestic market.
The participants also discussed broader cooperation to support the development of Uzbekistan's capital market, including strengthening the regulatory framework, expanding market infrastructure and enhancing institutional capacity.
"The implementation of these initiatives will contribute to expanding the range of financial instruments, increasing financing opportunities and further developing Uzbekistan's capital market," the agency said.
The sides reaffirmed their interest in continuing cooperation on capital market development, according to the statement.
Uzbekistan has been pursuing reforms to deepen its domestic capital market, broaden access to local-currency financing and attract greater participation from international financial institutions as part of wider efforts to diversify sources of investment and strengthen the country's financial sector.
