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New prospects for cooperation between Uzbekistan and the Asian Infrastructure Investment Bank considered

23 February 2021

On 23 February, in the format of a video conference, negotiations were held between the Deputy Prime Minister - Minister of Investments and Foreign Trade of the Republic of Uzbekistan Sardor Umurzakov and President of the Asian Infrastructure Investment Bank (AIIB) Jin Liqun, dedicated to discussing the current state joint projects, as well as the prospects for expanding mutually beneficial partnerships.

During the dialogue, the AIIB leadership noted the high nature of cooperation with Uzbekistan, as with one of the strategic partners in the Central Asian region, and also expressed readiness for its consistent expansion.

Particular attention during the negotiations was paid to the implementation of the project for the construction of the Mazar-i-Sharif-Kabul-Peshawar trans-Afghan railway, which was supported by the AIIB during the meeting of the trilateral working group consisting of the delegations of Uzbekistan, Afghanistan and Pakistan in Tashkent in January this year. It was noted that the development and strengthening of regional connectivity is one of the key priorities of the AIIB mission, therefore, the Bank's management will pay special attention to multilateral cooperation in the framework of the successful and timely practical implementation of this project.

During the negotiations, issues related to the implementation of current and ongoing projects with a total value of over US$930 million were also discussed. An agreement was reached to accelerate the transition to the stage of practical implementation of the project for the construction and modernization of water supply and sewerage systems in the Bukhara region. As a result of the implementation of this project, more than 1.1 million residents of the Bukhara region will have access to drinking water, and about 100 thousand people will be connected to the centralized sewage system.

An agreement was reached to intensify the joint development of new promising projects in the areas of infrastructure construction, healthcare, support for the private sector and other areas totaling US$2.1 billion. Moreover, opportunities will be considered for attracting additional funds from the Bank to provide financial support to exporting entrepreneurs and small and medium-sized enterprises in Uzbekistan, as well as to finance initiatives and programs aimed at increasing employment and developing home-based work.

Following the talks, the parties determined further steps to accelerate the practical implementation of current projects and agree on projects that are at the stage of joint development.