Tashkent, Uzbekistan (UzDaily.com) — On 30 January 2025, Uzbekistan’s Deputy Minister of Economy and Finance, Ilhom Umurzakov, met with representatives of the World Bank’s financial sector mission.

The discussions were attended by Valeria Goffe, the World Bank’s Lead Financial Sector Specialist, Anastasia Alexandrova, Program Coordinator in Uzbekistan, several experts, and representatives from the Ministry’s Department of Privatization and Transformation of State Assets.

The meeting focused on ongoing financial sector reforms, their interim results, implementation progress, and priority directions for the next stages.

World Bank representatives emphasized the importance of supporting the privatization of state-owned banks in Uzbekistan and highlighted the need for enhanced cooperation in this area.

Special attention was given to capacity building in the financial sector, including the development of the Banking and Finance Academy’s potential and the organization of specialized training programs for employees of state-owned banks. Experts from the World Bank noted that such initiatives play a crucial role in improving the qualifications of industry professionals.

Other topics discussed included the digital transformation of the financial sector and the development of the insurance market.

At the conclusion of the meeting, both parties agreed to strengthen cooperation and develop a concrete action plan for joint initiatives.