Prospects for deepening cooperation with the EBRD discussed
08/06/2021 00:22
Prospects for deepening cooperation with the EBRD discussed
08/06/2021 00:22
Tashkent, Uzbekistan (UzDaily.com) -- On 7 June, Deputy Prime Minister - Minister of Investments and Foreign Trade of the Republic of Uzbekistan Sardor Umurzakov received a delegation from the European Bank for Reconstruction and Development headed by First Vice President Jurgen Rigterink to discuss the current state and prospects of bilateral cooperation.
During the negotiations, which were also attended by the leadership of the Ministry of Investment and Foreign Trade (MIFT), the Agency for International Cooperation and Development under the MIFT and the heads of a number of Uzbek commercial banks, the current state of cooperation, the progress of joint projects and promising directions for the development of partnership were discussed.
Jurgen Rigterink highly appreciated the positive results of large-scale reforms consistently carried out in the country, and also assured the EBRD’s readiness to actively support the processes of economic transformation in Uzbekistan through investment and technical assistance.
The parties substantively discussed the progress of cooperation on the implementation of joint projects: currently, 21 projects worth US$1.8 billion are being implemented and developed in Uzbekistan in cooperation with the EBRD in such areas as energy, infrastructure and housing construction. The parties agreed to accelerate the development of new projects in the areas of housing and communal services, ecology, infrastructure development and the private sector.
The issues of cooperation in the banking sector were discussed: the EBRD will continue to provide analytical and technical assistance in the development of the financial sector in Uzbekistan, as well as in the reform and privatization of state-owned banks.
The possibilities of expanding credit and trade lines of the EBRD to finance projects of small and medium-sized businesses in Uzbekistan were considered. In addition, the EBRD will provide technical assistance to introduce innovative blended finance instruments for infrastructure development projects, combining private and public investment.
Also, within the framework of the discussion, proposals were considered for enhancing interaction to support the initiatives of women and youth entrepreneurship in the implementation of investment projects.
As a result of the negotiations, the parties agreed to establish an operational mechanism for constant interaction in order to ensure the timely and high-quality implementation of joint projects and agreements, as well as to develop new areas of cooperation.
At the end of the negotiations, a loan agreement was signed within the framework of the project "Improving the water supply of the Chust, Pap and Namangan districts, as well as the sewerage system of Chust and Mingbulak districts of Namangan region" in the amount of US$70 million.
Through the implementation of these projects, more than 170,000 people living in Chust, Namangan and Pap districts of Namangan region will have constant access to clean drinking water.
The funds will be used to support the construction and rehabilitation of water intakes, distribution stations and networks, highways and water treatment facilities serving seven rural settlements in the region (Chartak, Chust, Jumashui, Kyzyl-Rovat, Pap, Tashbulak and Uygur), as well as for the construction of treatment facilities, sewage pumping stations and networks in the villages of Chust and Dzhumashui.
The investments will make it possible to connect about 115 thousand new users to water supply networks. Thanks to the new infrastructure, water losses will be reduced by 0.6 million cubic meters per year.
The project will contribute to the implementation of the national program of Uzbekistan to connect the rural population to the centralized water supply system by financing the modernization of the water supply infrastructure, which will help deliver safe drinking water to the population, improve the personal hygiene of its consumers and improve the efficiency of the management of available water resources.
They also signed a mandate letter for the implementation of the project “Purchase of electric buses in the city of Samarkand” in the amount of US$20.0 million and a Memorandum of Cooperation within the framework of the “Green Cities” program. According to the Memorandum, Samarkand will become the 48th city - a partner of the EBRD flagship program "Green Cities", aimed at sustainable development of urban infrastructure and improving the quality of life of the urban population.
Within the framework of the Green Cities program, the EBRD assists in identifying environmental problems, developing practical measures to solve them and attracting investment for the development of urban infrastructure. Each city participating in the program implements a pilot project to improve the environment, and then, with the participation of Bank experts, develops an action plan to respond to current environmental challenges and identify priority areas for attracting investment, including improving housing and communal infrastructure, improving air quality, cleanliness and accessibility land and water resources, disposal of solid and household waste, the creation of "green zones" and reduction of emissions into the atmosphere. The total amount of funding allocated under the Green Cities program is currently 1.5 billion euros, and its participants are 47 cities from 30 countries.
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