Tashkent, Uzbekistan (UzDaily.com) – On 18 October, a meeting of the delegation of Uzbekistan with President of the European Bank for Reconstruction and Development (EBRD) Suma Chakrabarti took place on the sidelines of the Annual Meeting of the Governing Council of the World Bank and the International Monetary Fund in Washington.

The EBRD President, speaking of an unprecedented intensification of cooperation with Uzbekistan, noted a substantial agenda on economic and structural policies and tangible participation of the bank in reforming the energy and banking and financial sectors, developing the capital market, and creating a competitive environment in the economy.

Special attention was paid to ongoing projects in the field of electric power industry and the modernization of regional infrastructure - progress was discussed, private issues were considered, and operational solutions were worked out.

The EBRD leadership also praised the measures taken by the Government of Uzbekistan to transform the banking sector, informing about successfully implemented technical assistance projects to improve the legal and institutional framework for managing state assets and promoting privatization processes.

Developing the topic of expanding mutually beneficial cooperation, the parties discussed the prospects of covering the utilities, infrastructure and housing sectors, including through public-private partnerships and direct lending.

At the meeting, the issue of Uzbekistan’s initiative to hold an annual meeting of the EBRD Governing Council in 2023 in Samarkand was separately discussed.

Following the meeting, specific areas were identified for further development of cooperation.