Uzbekistan, EBRD discuss privatization, SME financing, energy and transport

Photo: The Ministry of Economy and Finance of Uzbekistan

BAKU, Azerbaijan, October 16. Uzbekistan and the European Bank for Reconstruction and Development (EBRD) discussed expanding cooperation in privatization, small business financing, mortgage lending, public-private partnerships, energy and transport during a meeting in Bangkok on October 15.

This was reflected in the statement by Uzbekistan's Ministry of Economy and Finance, following a meeting between Deputy Prime Minister and Minister of Economy and Finance Jamshid Kuchkarov and EBRD President Odile Renaud-Basso on the sidelines of the annual meetings of the International Monetary Fund (IMF) and the World Bank.

The discussions focused on Uzbekistan’s macroeconomic developments, ongoing economic reforms and priority areas for further cooperation with the EBRD.

Particular attention was given to the transformation and privatization of state-owned enterprises and banks, as well as related institutional reforms. Moreover, the parties discussed improving support mechanisms for small and medium-sized enterprises (SMEs), expanding their access to financing and developing new institutional solutions.

In addition, the talks covered potential financial support for the mortgage market, the development of public-private partnership (PPP) mechanisms and the implementation of related projects. Opportunities to expand cooperation in the energy and transport sectors were also discussed.

The meeting was attended by EBRD First Vice President Greg Guyett, EBRD Vice President for Banking Matteo Patrone, Deputy Chairman of the Central Bank of Uzbekistan Nodirbek Ochilov, Adviser to the Minister of Economy and Finance Jasur Karshibayev, and other officials.

The parties agreed to continue developing mutually beneficial cooperation and maintain dialogue on the issues discussed.