Ministry of Economy and Finance of the Republic of Uzbekistan

On June 17 of this year, Deputy Prime Minister and Minister of Economy and Finance of the Republic of Uzbekistan Jamshid Kuchkarov held a meeting with representatives of the delegation led by the President of the European Bank for Reconstruction and Development (EBRD), Odile Renaud-Basso. The meeting was also attended by EBRD Managing Director for Central Asia and Mongolia Husein Ozhan, Managing Director for Financial Institutions Francis Malige, and other officials.

During the dialogue, the current state of cooperation between Uzbekistan and the EBRD, ongoing joint projects, and future priorities were discussed. It was emphasized that Uzbekistan is one of the EBRD's largest partners in Central Asia, with projects currently being implemented in partnership with the bank across the financial sector, infrastructure, energy, transport, the private sector, and other priority areas.

At the beginning of the meeting, the EBRD signed cooperation agreements with JSCB Uzpromstroybank and the Uzbekistan Mortgage Refinancing Company. These agreements will serve to expand the availability of financial instruments in the country, including supporting small and medium-sized businesses, broadening financial opportunities for young entrepreneurs, and developing the mortgage market.

The parties also exchanged views on the processes of transformation and privatization of banks with state participation. Improving corporate governance in the banking sector, assessing asset quality, implementing international standards, and expanding private capital participation were identified as important tasks in this direction.

The meeting also discussed the sustainable growth rates observed in Uzbekistan's economy, ensuring macroeconomic stability, reducing inflation, strengthening budget discipline, and the reforms being implemented within the framework of the "Uzbekistan - 2030" strategy.

In conclusion, the parties agreed to continue a constructive dialogue to further expand the strategic partnership between Uzbekistan and the EBRD, reform the financial sector, support the private sector, and develop infrastructure and capital markets.

PR and Communications Department
Ministry of Economy and Finance