Top-level delegation of the Asian Development Bank (ADB) paid a visit to Uzbekistan on 4 June to discuss the possibilities of developing and strengthening cooperation.

The management of the ADB Department for the Countries of Central and Eastern Asia, headed by the Director-General Juan Miranda discussed the latest achievements in bilateral cooperation and plans for the future at the meetings with the Deputy Prime Minister and Minister of Finance Rustam Azimov, Deputy Prime Minister Ergash Shoismatov, and other officials.

"ADB is glad to assist Uzbekistan in achievement of economic growth through a more intensive support of economic reforms in the country," Mr. Miranda said. "We will be glad to assist the country’s economic growth and improvement of the living standards of its population."

In the course of the talks the parties discussed the establishment of long-term cooperation in the sectors of economy which the government finds to be especially important and to which ADB may provide quality services. ADB delegation noted on the progress in economic reforms in the country, including the reforms in the management of state finances, and confirmed its preparedness to provide assistance in the achievement of development goals in Uzbekistan.

This visit is the second visit this year, in accordance with the agreement reached by the parties in January 2007, which envisages the organization of regular meetings with the aim of strengthening cooperation. ADB is considering the possibility of issuing loans for the total amount of US$500 million in the following three years to the priority sectors of economy, such as state finance administration, agriculture, public education, city and rural water supply, transportation, irrigation and micro-financing.

The parties also discussed the possibility of ADB’s launching operations in the private sector of Uzbekistan, including investments in commercial banks and telecommunications sector. Both parties expressed their support of the development of long-term country development strategy. The goals pursued by the Asian Development Bank include the reduction of poverty in the countries of Asia and Pacific region through sustainable economic growth, social development and good governance. Founded in 1966 ADB now has 67 members, of which 48 are in the Asian-Pacific region. In 2006 ADB approved loans and grants as a part of technical assistance for the total amount of US$8.5 billion and US$242 million respectively.