Jamshid Kuchkarov and Antonella Bassani Discuss DPO and FINGROW Reform Programs

Tashkent, Uzbekistan (UzDaily.uz) — Jamshid Kuchkarov, Deputy Prime Minister and Minister of Economy and Finance of the Republic of Uzbekistan, held a high-level meeting with Antonella Bassani, World Bank Vice President for the Europe and Central Asia region, during the meeting of the Swiss Constituency of international financial institutions.

The talks were also attended by World Bank Group Executive Director Beatrice Maser, the bank's Regional Director for Central Asia Asad Alam, First Deputy Minister of Economy and Finance Ilkhom Norkulov, and heads of relevant departments. The participants conducted a comprehensive review of the current portfolio of joint projects and outlined strategic priorities for cooperation in the medium term.

The primary focus of the discussions centered on the consistent continuation of structural economic transformations, strengthening the institutional capacity of government bodies, and mobilizing private capital as the main driver of sustainable GDP growth. In this context, the parties exchanged detailed views on the implementation of the systematic Development Policy Operation (DPO) program, which directly supports government reforms to ensure macroeconomic stability. Special attention was paid to the new joint project, FINGROW, which is oriented toward stimulating small and medium-sized enterprises (SMEs), expanding their access to long-term financial resources, creating sustainable jobs, and revitalizing domestic investment activity.

In addition, the agenda covered the formation of a "new economy," support for innovative startups, the expansion of high-tech manufacturing with high added value, and long-term investments in human capital development. The experts also touched upon practical aspects of regional planning, specifically the development of comprehensive master plans for the socio-economic development of Uzbekistan's territories, the scaling up of public-private partnership (PPP) mechanisms in transport, utility, and social infrastructure, and the acceleration of the privatization program for major state assets.

The senior World Bank representatives highlighted Uzbekistan's recent successes in the global financial market, reflected in the improvement of the country's positions and positive outlooks within sovereign credit ratings from leading international agencies Fitch Ratings and Moody's. It was emphasized that these authoritative assessments are a direct consequence of the systemic economic reforms carried out under the leadership of President Shavkat Mirziyoyev, as well as the systematic work of the financial and economic sector to improve the business environment.

Following the meetings, the parties reaffirmed their readiness to deepen their constructive partnership and effectively launch new joint initiatives.