BAKU, Azerbaijan, June 29. Uzbekistan's Deputy
Prime Minister and Minister of Economy and Finance met with World
Bank Vice President for Europe and Central Asia to discuss
expanding cooperation on economic reforms, private sector
development and sustainable growth.
This was reflected in the statement published by the Ministry of
Economy and Finance of Uzbekistan, following the meeting between
Uzbekistan's Deputy Prime Minister and Minister of Economy and
Finance, Jamshid Kuchkarov and World Bank Vice President for Europe
and Central Asia Antonella Bassani on June 29.
The meeting was attended by World Bank Group Executive Director
Beatrice Maser, World Bank Regional Director for Central Asia Naji
Benhassine, First Deputy Minister of Economy and Finance Ilhom
Norkulov and other officials.
The two sides reviewed the progress of ongoing World
Bank-supported projects and discussed priority areas for future
cooperation, including institutional reforms, macroeconomic
stability and measures to strengthen Uzbekistan's long-term
economic resilience.
Particular attention was given to cooperation under the
Development Policy Operation (DPO) program, which supports the
country's reform agenda through policy-based financing and
technical assistance. The discussions also covered efforts to
expand private sector participation in the economy and attract
greater private investment.
The parties reviewed prospects for cooperation under the FINGROW
project, which aims to improve access to finance for small and
medium-sized enterprises, stimulate investment activity and support
job creation.
The meeting also addressed innovation, the development of higher
value-added industries, human capital, regional development
strategies, public-private partnership (PPP) projects,
privatization and improving the management of state-owned
assets.
According to Uzbekistan's Ministry of Economy and Finance, the
World Bank delegation noted recent improvements in the country's
sovereign credit ratings by Fitch Ratings and Moody's, describing
them as evidence of progress in strengthening macroeconomic
stability and improving the investment climate.
"The World Bank remains a key development partner supporting
Uzbekistan's economic transformation through policy advice,
investment projects and technical assistance," the ministry
said.
The meeting concluded with an agreement to continue implementing
existing projects, expand cooperation in priority sectors and
maintain close dialogue on new initiatives.
The discussions come as Uzbekistan continues to pursue
wide-ranging market reforms aimed at strengthening the private
sector, improving fiscal and institutional governance and
attracting foreign investment. The World Bank has been one of the
country's largest multilateral development partners, supporting
projects in infrastructure, energy, agriculture, education and
public sector modernization while backing reforms designed to
foster sustainable, private sector-led economic growth.
