TASHKENT, Uzbekistan, July 4. The Asian Infrastructure Investment Bank (AIIB) and Uzbekistan have developed an agenda for active cooperation on current joint projects and for development of new initiatives, Trend reports.
The issue was discussed at the meeting between Minister of Investments, Industry, and Trade of Uzbekistan Laziz Kudratov and Vice President and Corporate Secretary of the AIIB Ludger Schuknecht.
During the meeting, they discussed the current status of the implementation of ongoing projects and the prospects for expanding the financial and technical cooperation between Uzbekistan and AIIB.
The sides noted the positive dynamics of the growth in the volume of AIIB's current investment portfolio in Uzbekistan. The portfolio consists of 13 projects with a total value of over $2.4 billion dollars in sectors such as energy, infrastructure development, transportation, and healthcare. Since March 2023, the bank has approved three credit lines without state guarantees, amounting to $415 million, for energy projects.
"Uzbekistan is the first country with which we are working on a three-year project cycle. Our focus is, of course, on infrastructure development, strengthening human capital, private sector development, and promoting the global climate change agenda. We are interested in further developing our fruitful cooperation with your country," Schuknecht said.
The AIIB is a multilateral development institution aimed at promoting financial cooperation in the Asia-Pacific region. Its goal is to finance infrastructure projects in Asia, ranging from road and airport construction to communication antennas and affordable housing. Currently, AIIB has more than 80 member countries.