Tashkent, Uzbekistan (UzDaily.com) -- First Deputy Minister of Economy Mubin Mirzayev held talks with representatives of the World Bank mission led by Bank Economist Stefk Slavov. This was reported by the press service of the Ministry of Economy.

During the meeting, the head of the delegation noted that the main purpose of the ongoing negotiations was to inform and discuss the new project “Building the Institutional Capacity of Uzbekistan”.

Speaking about the project, it was noted that it will be implemented in four components. In particular, the project will focus on improving the efficiency of public finance management (US$11 million), creating conditions for market-oriented operations of the corporate sector (US$8.5 million), creating conditions for market-oriented operations of the corporate sector" (US$8.5 million) and providing technical assistance to the economic council.

The head of the delegation informed about the need to appoint a department responsible for the execution of functions for the execution of project components. The WB mission also noted that negotiations are underway with the EBRD on co-financing and implementation of measures for institutional support for reform.

During the meeting, issues of assistance from the WB in the creation of a project preparation fund (approximately from US$5 to US$80 million) were also discussed, the fund’s resources will be directed to the preparation of new projects, including development of feasibility studies, PTFE projects, the creation of a mechanism for financing public-private partnership.

In turn, the Uzbek side provided information on the ongoing reforms and ongoing joint work with the WB in the energy sector.

It was also proposed to consider the inclusion of a component in the project to improve the efficiency of the agro-industrial complex.

Following the meeting, the WB mission expressed gratitude for the reception and the parties agreed on joint work on the implementation of this project.