The Minister of Investment and Foreign Trade and the WB Vice-President discussed the implementation of joint projects

Tashkent, Uzbekistan (UzDaily.com) -- A meeting of the Minister of Investment and Foreign Trade with a delegation of the World Bank led by Vice President Cyril Muller was held on 26 February, during which aspects of the cooperation of the international financial organization with Uzbekistan were discussed, meaning large-scale investment initiatives in social and economic spheres.

In his welcoming speech, Sardor Umurzakov noted that cooperation between the World Bank and the Republic of Uzbekistan has expanded significantly and moved to a qualitatively new level and thanked the leadership of the organization for its support in the implementation of economic and structural reforms in the country.

In turn, summing up the activities of the financial group for 2018. Mr. Muller noted a significant intensification of the use of allocated funds and expressed the hope that this trend will continue.

Moreover, it was stated that the plans of the financial corporation are growing in scale: the range of areas is planned to be radically expanded to include 4 new sectors: energy (in particular, the alternative energy sector), the financial sector, transport and logistics, and agriculture. It should also be noted that in the conditions of a dynamically developing economic situation and a strengthening legal and regulatory field, partnership with the World Bank will develop not only in the public but also in the private sector.

At the same time, special attention will be paid to supporting socially vulnerable groups of the population in order to ensure their access to jobs, health care systems and education.

In 2019, approval and signing of loan agreements on a number of significant projects is expected: development of entrepreneurship in the Ferghana Valley, Digital Uzbekistan (Digital CASA), reconstruction of water supply and sewerage systems in several regions of Uzbekistan.