BAKU, Azerbaijan, July 28. Uzbekistan's
National Agency for Perspective Projects (NAPP) discussed
cooperation with the International Finance Corporation (IFC) and
the World Bank Group Treasury on developing the country's domestic
capital market, including the possible issuance of local-currency
bonds by the two institutions.
This was reflected in the statement by the Uzbekistan's National
Agency for Perspective Projects (NAPP).
The discussions took place during a meeting between NAPP
officials and a delegation comprising representatives of the World
Bank Group Treasury and the IFC's office in Uzbekistan.
According to the agency, the sides reviewed prospects for
issuing IFC and International Bank for Reconstruction and
Development (IBRD) bonds denominated in Uzbekistan's national
currency on the country's domestic market.
The participants also discussed broader cooperation to support
the development of Uzbekistan's capital market, including
strengthening the regulatory framework, expanding market
infrastructure and enhancing institutional capacity.
"The implementation of these initiatives will contribute to
expanding the range of financial instruments, increasing financing
opportunities and further developing Uzbekistan's capital market,"
the agency said.
The sides reaffirmed their interest in continuing cooperation on
capital market development, according to the statement.
Uzbekistan has been pursuing reforms to deepen its domestic
capital market, broaden access to local-currency financing and
attract greater participation from international financial
institutions as part of wider efforts to diversify sources of
investment and strengthen the country's financial sector.
