The report provided no details of negotiations, except that ADB official met deputy chairperson of the National Bank of Uzbekistan for Foreign Economic Relations B. Nurullaev. The sides noted that reforms in banking-financial system gave their fruits and serves for development of relations with foreign partners.

The sides also exchanged opinion on current affairs and perspectives of mutual beneficial cooperation between Uzbekistan and ADB. The sides discussed development and implementation of new joint projects.

ADB is dedicated to poverty reduction in Asia and the Pacific, a region that is home to two thirds of the world’s poor. Established in 1966 and headquartered in Manila, ADB is owned and financed by its 67 member countries, of which 48 are from the region and 19 are from other parts of the globe.

The bank has been investing into social-economic spheres of Uzbekistan since 1995. The bank helped Uzbekistan to reform education, agriculture, transport and transport communication, healthcare, banking and finance, industry, trade, energy and other sectors. ADB invested over US$1 billion into Uzbekistan so far. It also granted US$72 million in technical aid.

Kyung-Hoh Kim said Uzbekistan has great economic potential and ADB highly values cooperation with the country. He said that during the visit, he saw that ADB projects are implemented effectively.

ADB official said there are all necessary legal base for reformation and liberalization of banking system and the country created favourable investment environment for foreign businesses. He said the bank intends further develop cooperation in the country.