BAKU, Azerbaijan, August 25. Uzbekistan and the
Export-Import Bank of China are working to expand financial
cooperation, focusing on accelerating investment projects worth
more than $1 billion across key sectors of the economy.
This was reflected in the statement by the Uzbek Ministry of
Investment, Industry and Trade, following a meeting between Deputy
Minister Ilzat Kasimov and Wang Kang, vice president of the
Export-Import Bank of China, on August 25.
According to the Ministry, the portfolio of joint projects
between Uzbekistan and China Exim Bank currently exceeds $5.7
billion, according to the Uzbek ministry.
The sides reviewed the implementation of ongoing projects and
discussed prospects for expanding financial cooperation and
developing new investment initiatives.
"Special attention was paid to 7 promising projects with a total
value of $1.05 billion in the areas of hydropower, water
infrastructure, agriculture, and transportation, including the
Pungan-Namangan highway project," the ministry said in the
statement.
A separate focus was placed on a $500 million telecommunications
project, which is currently under active implementation.
The projects form part of broader efforts by Uzbekistan and
Chinese financial institutions to expand investment cooperation and
support infrastructure and economic development in Uzbekistan.
The focus on hydropower, water infrastructure and transport also
reflects Uzbekistan’s efforts to address infrastructure needs while
attracting long-term financing for projects with potential economic
and regional benefits.
Following the meeting, the sides reaffirmed their interest in
accelerating priority projects and expanding the existing
investment portfolio.
The discussions are expected to provide additional momentum to
Uzbekistan-China financial cooperation and help move several major
projects from planning toward implementation.
