Tashkent, Uzbekistan (UzDaily.com) -- The United Nations Development Programme (UNDP) in cooperation with the Tashkent Institute of Finance and the Association of Professional Participants Insurance Market of Uzbekistan, launched an initiative to open a training center that is aimed at training specialists in the insurance sector.

The main goal of the training center is to improve the skills of participants in the insurance market, as well as train professionals on the “Trainer for Trainers” principle, which will further increase capacity building and the overall development of the insurance market in Uzbekistan. The training center will operate in the building of the Tashkent Institute of Finance.

The official opening ceremony of the training center took place on 14 November 2023, with the participation of the Deputy Resident Representative of UNDP in Uzbekistan, Mr. Anas Fayyad Qarman, the rector of the Tashkent Institute of Finance, Mr. Tolkin Zakirovich Teshabayev and the Chairman of the Association of Professional Participants Insurance Market of Uzbekistan, Mr. Oybek Nasirovich Khalilov. Also, the ceremony was attended by representatives of insurance companies of the Republic of Uzbekistan, Higher Educational Institutions of Uzbekistan and the Mass Media.

In addition, as part of the opening ceremony, a Memorandum of Understanding was signed between UNDP, the Tashkent Institute of Finance and the Association of Professional Participants Insurance Market of Uzbekistan on the further development of the training center and strengthening the knowledge of insurance market participants. The first trainings are scheduled for 17-18 November 2023 for representatives of insurance companies.

At the end of the ceremony there was a presentation of the work of the training center, its main goals and objectives, and its further development strategy. It is worth noting that the participants of the event mentioned that the lack of qualified employees is one of the main difficulties in the development of the industry and the relevance of this initiative, the importance and prospects for the further development of the training center were noted.

The opening of the training center was supported within the framework of the UNDP global project “Insurance and Risk Finance Facility” financed by the Government of Germany, the main objective of which is to provide support to countries participating in the project in the development of the insurance market of Uzbekistan, including but not limited to: Integration of the insurance policy into the economic development programs of the country; Inclusive insurance; Sovereign risk financing; Natural capital insurance; Insurance and investments.