Tashkent, Uzbekistan (UzDaily.com) -- Today, June 11, the President of the Republic of Uzbekistan Shavkat Mirziyoyev held talks with the President of the European Bank for Reconstruction and Development Suma Chakrabarti in the form of video conference.

At the beginning of the conversation, the head of our state noted with deep satisfaction the high level of relations achieved in recent years and the fruitful cooperation of the Republic of Uzbekistan with the European Bank for Reconstruction and Development.

Thanks to the joint implementation of the provisions of the Bank’s Country Strategy and the Road Map, today the EBRD is one of the key partners in promoting priority programs and projects aimed at ensuring sustainable social and economic development in our country.

Currently, the project portfolio is about US$1.2 billion and covers all priority areas. At the same time, a third of all allocated funds are allocated to support the private sector and entrepreneurship, including in order to minimize the negative consequences of the coronavirus pandemic in the republic. In addition, the parties are considering new project proposals worth about US$1 billion.

The bank’s experts also took an active part in the development of legislative acts and strategic initiatives in the field of public-private partnerships, the development of the capital market, the reform of the banking sector and other sectors of the economy of Uzbekistan.

The EBRD expanded its office in Tashkent, opened an office in Andijan. An office in Urgench is expected to begin work next year.

Speaking about the practical results of the interaction, the President of our country sincerely thanked Suma Chakrabarti for his active efforts and great personal contribution to strengthening mutual trust and developing effective cooperation.

In turn, the head of one of the leading international financial institutions, expressing deep appreciation for organizing the meeting in this format, emphasized the bank’s strong commitment to fully support the ongoing new reform course in Uzbekistan and regional policy in Central Asia, in particular by expanding its portfolio and financial technical assistance.

Suma Chakrabarti praised the country’s comprehensive measures to eliminate the consequences of the emergency in the Syrdarya region and to prevent the spread of a pandemic in the republic.

During the videoconference, issues of expanding mutually beneficial cooperation were substantively considered. Particular attention was paid to the EBRD’s participation in the transformation of state-owned enterprises and the privatization of banks, the promotion of reforms in the energy sector and the oil and gas industry, the effective development of allocated loans, and the expansion of business financing, including projects in the textile industry.

An agreement was reached to continue intensive contacts and exchanges, including joint preparation of a future meeting of the Council of Foreign Investors in Tashkent and a meeting of the EBRD Governing Council in Samarkand in 2023.