Ministry of Economy and Finance of the Republic of Uzbekistan

The meeting was also attended by Sameh Wahba, Regional Director for Sustainable Development for Europe and Central Asia at the World Bank, Timur Ishmetov, Chairman of the Central Bank of the Republic of Uzbekistan, and other responsible officials.

During the meeting, the parties discussed current macroeconomic trends, including economic growth rates, inflation, the state of the external sector, and budget policy parameters, as well as medium-term socio-economic development forecasts.

The progress of joint projects implemented with the participation of the World Bank was reviewed, including projects in education, healthcare, energy, water supply, agriculture, and transport, along with measures to improve their effectiveness.

The parties also discussed the implementation of budget support programs, development of infrastructure projects, improvement of financing instruments, and support for small and medium-sized enterprises, women’s entrepreneurship, and youth initiatives.

Particular attention was given to digital transformation, the introduction of modern technologies, including elements of artificial intelligence, as well as institutional development.

Within the framework of the Spring Meetings of the World Bank Group and the International Monetary Fund, agreements were signed on the implementation of a number of investment projects.

In particular, agreements were reached on the reconstruction of the M41 section of the “Bishkek–Dushanbe–Termez” international highway. Under the project, approximately 97 km of road will be reconstructed in line with modern international standards, including expansion to four lanes, as well as the construction of bridges and overpasses.

In addition, documents were signed for a project on the development of regional energy infrastructure under the REMIT program. The project provides for the construction of new 220 kV transmission lines and the modernization of substations and is aimed at improving the reliability of electricity supply in the Fergana Valley.

Furthermore, agreements were formalized under the FINGROW project. This project is aimed at expanding access to finance for small and medium-sized enterprises, including through the introduction of guarantee mechanisms and support for green and energy-efficient projects.

The implementation of these initiatives will contribute to further development of transport and energy infrastructure, expanding access to financial resources, stimulating entrepreneurial activity, and ensuring sustainable economic growth.

At the conclusion of the meeting, the parties agreed to further expand strategic cooperation and continue collaboration in priority areas.

PR and Communications Department

Ministry of Economy and Finance