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ADB to support Uzbekistan in attracting private investments

4 October 2021

ADB will assist in the introduction of new financing instruments and attracting private investment for the implementation of infrastructure projects in Uzbekistan, Trend reports citing Ministry of Investment and Foreign Trade of Uzbekistan.

This topic was discussed at a meeting between the Minister of Investment and Foreign Trade of Uzbekistan Sardor Umurzakov with the Vice President of the Asian Development Bank (ADB) Shixin Chen.

The sides discussed the state of ongoing projects, as well as issues related to the deepening of bilateral cooperation.

Moreover, cooperation will be established to spread the successful experience of introducing public-private partnership mechanisms in the field of renewable energy sources to other priority areas: healthcare, education, solid waste management and housing and communal services.

Special attention was paid to the issues of establishing cooperation between ADB and the Agency for Strategic Development under the President of Uzbekistan and the Agency for International Cooperation and Development under the Ministry of Investment and Foreign Trade.

Within the framework of cooperation ADB will provide grants and technical and consulting assistance by to the activities of these agencies.

The ADB management also expressed their readiness to consider the possibility of attracting financing for the implementation of environmental and climate projects in the Aral Sea region.

Following the meeting, further steps were outlined to address the set tasks within the discussed areas of cooperation.