Tashkent, Uzbekistan (UzDaily.com) -- On 14 October, on the sidelines of the Annual Meeting of the Governing Council of the World Bank and the International Monetary Fund, negotiations were held between Minister of Investments and Foreign Trade Sardor Umurzakov and Vice President of the European Investment Bank (EIB) Vazil Hudak.

During the discussion of the current state of partnership, the parties, recognizing the progress already achieved in terms of cooperation on a number of sustainable environmental development projects in the Aral Sea region, agreed on the need to fully utilize the existing potential for cooperation.

A common position was developed on the need for a systematic approach to project implementation, considering the EIB’s close assistance in implementing the Strategy adopted in October for the Republic’s transition to the green economy for the period 2019-2030, which provides for the implementation of comprehensive measures aimed at deepening structural transformations, modernization and diversification basic sectors of the economy and balanced socio-economic development of territories.

As a result of the negotiations, further cooperation was discussed to accelerate the financing of a number of projects for the modernization of heat supply systems, solid waste management and the development of renewable energy sources, not excluding the possibility of their implementation in cooperation with other financial institutions.