Tashkent, Uzbekistan (UzDaily.com) -- On 7 October, a memorandum of understanding was signed between the Entrepreneurship Development Agency under the Ministry of Economic Development and Poverty Reduction and the European Bank for Reconstruction and Development (EBRD).

The memorandum was signed by Botir Akhmedov, First Deputy Director of the Entrepreneurship Development Agency under the Ministry, and Zsuzsanna Hargitai, EBRD Managing Director for Central Asia.

In addition, a project “Cooperation in support of the concept, strategy and potential of small and medium-sized enterprises in the Republic of Uzbekistan” was developed and the EBRD considered the following proposals:

- development of a concept for the development of small and medium-sized businesses in the country;

- development of a strategy for the development of small and medium-sized businesses;

- formulating clear, measurable, achievable, important and long-term goals of the Agency, defining the main directions of the Agency's activities for the development of entrepreneurship;

- make recommendations on the future activities of the agency and support its implementation.

The parties noted that the memorandum will play an important role in expanding future cooperation.