IFC project contributes to implementation of strategic objectives of Uzbek Government – Narbaeva

The International Finance Corporation (IFC) launched the project to produce socially responsible and environmentally sustainable cotton in Uzbekistan. The project is implemented with the financial support of the Hungarian EXIM Bank.

The project is aimed at increasing efficiency of cotton production in Uzbekistan by developing and implementing best practices in growing cotton and introducing a system of standards for sustainable cotton production, which meet requirements of international standards in order to minimize the risk of using forced labor in the cotton sector.

Tanzila Narbaeva said that that thanks to the project, Uzbekistan will implement best practices in cotton growing that will allow farmers and textile enterprises to meet international standards in the near future.

Chairman of the Board of Uzbekyengilsanoat Ilkhom Haidarov said that enterprises of Uzbekistan will be able to completely process cotton produced in the country by 2020.

“The production of textile products in accordance with international standards is impossible without ensuring sustainable production of raw cotton. Development and implementation, together with farmers, of a system for production and supply of cotton to textile enterprises will promote further promotion of Uzbek products to major international markets,” he added.

Head of IFC consulting services in industry, agribusiness and services Tatyana Lozanskaya said: “Support for sustainable development of the private sector is a strategic objective of IFC. Our project on development of the cotton sector in Uzbekistan will accelerate transformation processes in Uzbekistan, aimed at increasing the role of the private sector in the country’s economy. Introduction of the best practices in production of cotton will also provide an opportunity to increase the global competitiveness of Uzbek cotton and textile products.”