The team, led by Juan Miranda, Director General of the Central and West Asia Department, discussed recent developments and future plans for cooperation with Mr. Rustam Azimov, Deputy Prime Minister and Minister of Finance, and other senior government officials.

"ADB is committed to helping Uzbekistan achieve growth by pursuing stronger assistance in economic reforms," Mr. Miranda said. "We look forward to contributing to the country’s growth for years to come."

Discussions focused on establishing a long-term partnership with Uzbekistan in sectors that the Government considers vital and where ADB can provide value-added services focused on both quality and quantity of its assistance.

The ADB team noted the progress made in some aspects of economic reforms such as the ongoing public finance management reform, and reconfirmed ADB’s continuing commitment to provide support to meet Uzbekistan’s development needs.

This is the second visit by the regional management team this year as a result of an agreement both sides reached in January to have regular high-level meetings to enhance cooperation.

ADB is considering providing Uzbekistan with up to $500 million in loans over the next three years in priority sectors, including public finance, rural development, basic education, urban and rural water supply and sanitation, transport, irrigation and microfinance.

Both sides also discussed the possibility of ADB initiating private sector operations in Uzbekistan, including investments in commercial banks, insurance and leasing companies.

The two sides expressed their willingness to develop a long-term vision for development and a roadmap to be able to achieve it.