Tashkent, Uzbekistan (UzDaily.com) — On 12 November, during the COP29 summit in Baku, President of the Republic of Uzbekistan Shavkat Mirziyoyev met with the President of the European Bank for Reconstruction and Development (EBRD), Odile Renaud-Basso.

The meeting focused on practical aspects of expanding full-scale cooperation with this international financial institution.

Special attention was given to positive outcomes, including the fact that EBRD investments in Uzbekistan have surpassed 5 billion euros, making Uzbekistan the bank’s largest partner in the region.

The active participation of the Bank in the privatization process within the banking sector, as well as improvements in the regulatory framework for investments and subsoil use, were highlighted as important steps.

The President emphasized the importance of enhancing the quality of preparation and effectiveness of joint projects.

Attention was also given to the implementation and further development of the Partnership Strategy between Uzbekistan and EBRD.

Priority areas of cooperation included new projects in energy efficiency, development of small and medium-sized businesses, women’s and youth entrepreneurship, the introduction of public-private partnership mechanisms in the social sector and infrastructure, and the development of "green" cities.

The parties also exchanged views on preparations for the next meeting of the Foreign Investors’ Council, which is set to take place next year.