Head of UCMDA meets with the Vice-President of the World Bank

Tashkent, Uzbekistan (UzDaily.com) - Atabek Nazirov, director of the Uzbek Capital Market Development Agency (UCMDA), held a meeting with World Bank Vice President Ceyla Pazarbasioglu in the United States on 17 July.

Ms. Pazarbasioglu noted that Uzbekistan is a country that has a high priority for the World Bank group.

The parties agreed that the successful development of the capital market requires the formation of local institutional investors, which traditionally are local investment funds, insurance companies, and investment management companies.

The importance of supporting the introduction of derivative financial instruments was also noted.