Tashkent, Uzbekistan (UzDaily.com) -- The First Deputy Minister of Economy and Finance of the Republic of Uzbekistan, Ilkhom Norkulov, held a meeting with a delegation from the Asian Development Bank (ADB), led by Deputy Director General of the Central and West Asia Department, Xiaohong Yang.

The discussions centered on changes in Uzbekistan’s energy sector, enhancing energy efficiency, mitigating climate change impacts, developing the carbon market, efficient use of water resources, advancing irrigation systems, and improving the quality of heating systems.

The parties also discussed reforms related to the transition to a green economy, master plans for regional development, the growth of small and medium-sized businesses, the transformation of state-owned enterprises and banks, as well as cooperation with international financial institutions.

During the meeting, loan agreements were signed with the Asian Development Bank as part of the "Energy Sector Development" and "Financial Market Development" programs. These programs aim to implement reforms for the energy sector’s development, strengthen the regulatory framework, improve financial sustainability, reduce carbon intensity, boost demand for energy efficiency, and develop infrastructure and regulatory frameworks for the capital market.

As a result of the talks, an agreement was reached to further expand and develop joint activities on the aforementioned issues.