Prospects of cooperation development between Uzbekistan and the International Finance Corporation

Today, on September 28 this year, Deputy Prime Minister - Minister of Investments and Foreign Trade of the Republic of Uzbekistan Jamshid Khodjaev met with the Director of the International Finance Corporation (IFC) for Europe and Central Asia Vibke Schlemer. The sides discussed prospects of cooperation in view of implementation of ongoing joint projects and development of new investment initiatives.

It was noted that the IFC current portfolio consists of 28 investment projects worth 480 million dollars in banking, finance, energy, textile, food, chemical, furniture industry and development of small and medium-sized businesses, as well as five projects worth 474 million dollars in the financial and energy sectors of the country.

The IFC management was highly appreciated for its technical support in developing financial markets, supporting public-private partnership projects in agribusiness, transport, healthcare and energy, including international tenders for the construction of three solar power plants and a combined cycle power plant with a capacity of 1,500 MW in the Sirdarya region, as well as three solar power plants in the Khorezm, Namangan and Bukhara regions.

The issues of engaging IFC's advisory and technical support in the implementation of economic and structural reforms in Uzbekistan, taking into account the transformation and privatisation of state enterprises and commercial banks, were also discussed.