Meetings with the World Bank Vice-President for Europe and Central Asia

On May 17, this year, the Ministry of Finance of the Republic of Uzbekistan held a meeting with Anna Bjerde, Vice-President of the World Bank for Europe and Central Asia, who is in Uzbekistan on an official visit from May 14 to 18 as part of her first working tour of Central Asian countries.

The meeting was attended by the Minister of Finance of the Republic of Uzbekistan Timur Ishmetov, First Deputy Minister of Finance Omonullo Nasritdinkhodjayev and Deputy Ministers of Finance Odilbek Isakov, Jamshid Abruev and other officials.

The World Bank delegation also included the Executive Director of the World Bank Group (WB), representing Uzbekistan on the Board of Executive Directors of the WB, Katarzyna Seidel-Kurovska, WB Regional Director for Central Asia Lilia Burunchuk, WB Permanent Representative to Romania and Hungary, the new WB Regional Director for Central Asia (from July 1, 2021) Tatyana Proskuryakova, as well as the head of the WB Representative Office in Uzbekistan Marco Mantovanelli.

During the meeting, the parties discussed a number of issues of bilateral cooperation, including the implementation of projects with the financial participation of the World Bank in such key areas as the development of the social protection system, urban and rural infrastructure, water supply systems, etc.

The parties separately considered the reforms in the field of transformation of large enterprises with the participation of the state, as well as the process of reforming banks with the participation of the state within the framework of the Strategy for Reforming the Banking System of the Republic of Uzbekistan for 2020 — 2025.

The next meeting within the framework of Ms. Bjerde's visit was held at the Ministry of Economic Development and Poverty Reduction of the Republic of Uzbekistan with Deputy Prime Minister-Minister of Economic Development and Poverty Reduction Jamshid Kuchkarov.

The talks were also attended by Finance Minister Timur Ishmetov, Director of the Agency for State Asset Management Akmalkhon Ortikov, First Deputy Minister of Economic Development and Poverty Reduction Ilkhom Norkulov, First Deputy Chairman of the Central Bank Botir Zahidov, Deputy Ministers of Finance Akhadbek Khaydarov and Odilbek Isakov.

During the meeting, the parties discussed the reforms implemented by the Government of Uzbekistan in various socio-economic spheres, including the reform of large enterprises with the participation of the state, measures to reduce the level of poverty among the population, the development of entrepreneurship, the modernization of heat supply systems, the rational use of energy resources and the improvement of land relations.

The parties discussed priority areas within the framework of the World Bank's Partnership Framework with the Republic of Uzbekistan for 2022-2026, which is currently being developed, which meets the government's plans for the socio-economic development of the country for the next five years.

Ms. Bjerde welcomed the determination of the Government of Uzbekistan to continue implementing important socio-economic reforms despite the crisis triggered by the COVID-19 pandemic. She stressed that the World Bank will continue to provide financial and advisory assistance to the country in implementing reforms aimed at its transition to an inclusive and sustainable market economy.

Following the negotiations between the World Bank and the Government of Uzbekistan, a ceremony of financial and grant agreements on the project "Development of the water supply services sector and its institutional support in Uzbekistan"was held. A loan from the World Bank in the amount of US $ 239 million, as well as a grant from the Swiss State Secretariat for Economic Affairs in the amount of US $ 7.8 million, is allocated for the implementation of the project.

Within the framework of the project, more than 500 thousand people in three regions of Uzbekistan will have access to better water supply and sanitation services. It is planned to modernize sewage treatment facilities in the cities of Nukus, Takhiatash and Khojeyli in the Republic of Karakalpakstan. Water supply and sewerage networks in Syrdarya region and Kattakurgan city of Samarkand region will also be expanded and reconstructed.

A financial agreement was also signed on the project "Modernization of the national innovation system in Uzbekistan". A loan from the World Bank in the amount of 50 million US dollars is allocated for the implementation of the project.

The new project, supported by the World Bank, will help the government to develop a national innovation system that can function in a market economy. It will promote cooperation between the state, research organizations and the private sector in the field of R & D and commercialization of scientific and innovative products and services.

The project will promote international-class research in state research institutes and universities, and will also allow the commercialization of the results of their work. Researchers from these organizations will be able to apply for grants that will finance the implementation of about 50 research and development projects, including joint projects involving international researchers and the private sector.

In addition, local firms and companies will be able to receive about 30 grants to invest in startup projects and in R & D of new or existing innovative products and services that are in demand in the local and international markets. For example, they will be able to apply for funding for a project in the development of medical, pharmaceutical and biotechnological products and services, as well as in other promising areas of science and technology.

Within the framework of the project, funds will be allocated for the modernization of the infrastructure and laboratories of individual research institutes, the list of which will be approved by the Ministry of Innovative Development after a comprehensive assessment of the needs of the relevant organizations.

The World Bank is currently providing assistance to Uzbekistan through technical assistance and funding for 24 projects. They contribute to the implementation of important economic reforms, the development of agriculture, health, education, water and sanitation, energy, transport, social protection systems, the modernization of urban and rural infrastructure, as well as to the mitigation of the consequences of COVID-19 for the health, economy and citizens of the country.

Information Service of the

Ministry of Finance