On May 16-18, the 32nd annual meeting of the Board of Directors of the European Bank for Reconstruction and Development (EBRD) on the theme “Investing in compliance” will be held in Uzbekistan.
The session “On the investment prospects of Uzbekistan” was included in the agenda of the business forum. It discusses the growth prospects of the country’s economy and investment opportunities.
Also, the 3-day agenda of the event included a series of panel discussions with the participation of experts on various topics. Sessions focus on regions and individual countries.
Among them:
• international trade;
• energy security, renewable energy sources;
• short and long-term problems in the modern world;
• the importance of small and medium business for the economy;
• digitization in emerging markets;
• EBRD “Green Cities” program;
• EBRD’s leading macroeconomic study – “Regional Economic Prospects”.
Relations of Uzbekistan with EBRD
Uzbekistan became a member of EBRD on April 30, 1992. Together with Switzerland, Ukraine, Liechtenstein, Turkmenistan, Serbia, Montenegro and Moldova, the republic is included in the Swiss group of EBRD.
A bank representative office was opened in Tashkent in May 1993, in Andijan – in October 2019, and in Urganch – in June 2021.
To date, a total of 129 projects worth more than €4 billion have been implemented in the republic with the participation of EBRD.
In particular, EBRD allocated €839 million to projects in Uzbekistan in 2022, which is 30% more than in 2021.
In the course of its activities in Uzbekistan, the Bank has paid special attention to transformation and privatization of state-owned enterprises and banks, attracting foreign direct investment, supporting green development projects, energy and transport, introducing effective mechanisms of public-private partnership, as well as supporting women and youth entrepreneurship programs.
In particular, the law “On Public-Private Partnership” was developed by ministries and agencies with the participation of EBRD. The bank allocated $520 million for the construction of two wind power plants with a total capacity of 1 GW in the Bukhara region. It is also involved in the construction of a 120 km long high-voltage power transmission line between the villages of Sarimay and Jankeldi.
For information, the European Bank for Reconstruction and Development was established in 1991 as an international financial institution. The headquarters is located in London.
Its main goal is to help countries transition to a market economy, facilitate their integration into the world economic community, implement structural and economic reforms, including de-monopoly, decentralization, decentralization and privatization, and the development of private entrepreneurship.
