BAKU, Azerbaijan, November 13. Tashkent and the World Bank discussed potential financing mechanisms for urban infrastructure projects, including options that would not require government guarantees, during a meeting between city officials and a World Bank delegation on November 10.
According to the Tashkent regional administration, Mayor Shavkat Umurzakov met with Charles Cormier, the World Bank's Regional Director for Infrastructure in Europe and Central Asia, and members of the delegation, including transport specialists and representatives of the Multilateral Investment Guarantee Agency (MIGA), a member of the World Bank Group.
The discussions focused on expanding cooperation in urban infrastructure development, modernizing the city's road network and improving public transportation.
Umurzakov briefed the delegation on ongoing projects in the capital, highlighting road repairs, transport infrastructure development and efforts to improve the quality of public services.
World Bank representatives positively assessed the work underway in Tashkent and expressed readiness to support efforts to mobilize financing for the city's infrastructure projects.
Particular attention was paid to the potential use of financial instruments that do not require sovereign guarantees, as well as conducting a creditworthiness assessment of the city.
Following the meeting, the sides agreed to continue discussions, examine potential financing arrangements and explore additional areas of cooperation in urban infrastructure development.
Cooperation with international financial institutions could provide Tashkent with additional opportunities to implement infrastructure projects, introduce modern urban management practices and improve the quality of the city's urban environment.
