Uzbekistan - ADB: agreement reached on joint implementation of 27 projects worth $2.8 billion

Deputy Prime Minister - Minister of Investment and Foreign Trade of the Republic of Uzbekistan Jamshid Khojaev met with Vice President of ADB for Administration and Corporate Governance Bruce Gosper via videoconference.

During the discussion the current state and prospects of expanding bilateral cooperation between Uzbekistan and ADB were discussed.

Officials at the meeting with ADB management have highlighted the ample opportunities for expanding private and foreign investment in various sectors of Uzbekistan's economy. It was announced that the current portfolio includes 24 projects in infrastructural construction, power engineering, housing and utilities, healthcare, agriculture worth 3.7 billion US dollars. Within the business plan of the ADB's country operations for 2022-2024, it was agreed upon to jointly implement 27 projects worth 2.8 billion US dollars.

This year, the agreement has been signed on 1 investment project worth $274 million and negotiations have been completed on 2 projects aimed at development of the mortgage market sector and budget support totalling $650 million. The sides reached the agreement to make arrangements for the signing of the agreements related to these projects by the end of this year.

At the end of the meeting the sides expressed their mutual commitment to consistently continue the cooperation within the existing and new areas of cooperation.