Tashkent, Uzbekistan (UzDaily.com) -- A meeting of the leadership of the Ministry of Finance, the Ministry of Health and representatives of the International Finance Corporation (IFC) was held on 6 November 2018 to discuss implementation of a project to attract private investment to finance the creation of centers of hemodialysis in of Uzbekistan and the provision of hemodialysis services.

IFC provides loans, equity investments, offers structured financing and risk management products, and provides advisory services to boost private sector growth in developing countries.

During this meeting, the agreements reached on previous meetings and discussions were discussed, the results of which between the Ministry of Finance, the Ministry of Health and the International Finance Corporation signed an Agreement on the provision of financial advisory services.

The IFC will analyze and help to prepare necessary documents for holding a tender and in process of determining and selecting a private partner for the implementation of the Project;

The IFC will also prepare project structure, which will reflect the volume and level of hemodialysis services, which should be included in the services provided by the investor (medications, nutrition, medical advice, laboratory tests, etc.) and other issues.

The Ministry of Finance will issue funds for US$150,000 to IFC for its expenses due to the state budget.

The IFC will conclude with the Ministry of Health of a long-term agreement on public-private partnership with a private investor, determined on the basis of tenders.

The main objectives of this project are introduction of international experience and generally accepted international standards in the health sector, attracting recognized and qualified investors from the private sector through a transparent tender process and concluding a long-term public-private partnership (PPP) agreement to create, manage and provide hemodialysis services through investments from private partners, etc.

The implementation of this project will drastically improve the quality of hemodialysis services to the population of the Republic of Uzbekistan at the level of international standards, increase the coverage of the population with these quality services, attract foreign direct investment to the health sector, as well as the experience and knowledge of leading foreign organizations specializing in providing hemodialysis services.