Uzbekistan and World Bank Discuss Investment Attraction and Economic Growth
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Uzbekistan and World Bank Discuss Investment Attraction and Economic Growth

Uzbekistan and the World Bank Group held discussions on prospects for economic growth, attracting private investment, and creating new jobs.

These issues were addressed on October 16 in Bangkok during a meeting between Jamshid Kuchkarov, Deputy Prime Minister and Minister of Economy and Finance of Uzbekistan, and Ajay Banga, President of the World Bank Group.

According to the Department of Information and Communications of the Ministry of Economy and Finance of Uzbekistan, the negotiations took place concurrently with the annual meetings of the International Monetary Fund and the World Bank.

Participants in the discussion included Anna Bierde, World Bank Chief Operating Officer; Imad Fahuri, Regional Vice President of the International Finance Corporation for the Middle East and Central Asia; Nodirbek Ochilov, Deputy Chairman of the Central Bank of Uzbekistan; Jasur Karshibayev, Advisor to the Minister of Economy and Finance, as well as other representatives.

The parties reviewed Uzbekistan's macroeconomic trends, progress made in ongoing reforms, and opportunities to expand cooperation with the World Bank Group. Special attention was paid to sectors capable of supporting sustainable economic growth and increasing the country's economic opportunities.

The discussions covered infrastructure and energy development, agribusiness, healthcare, and tourism, as well as increasing the production of higher value-added goods. Other topics included the AgriConnect initiative aimed at agricultural development and the Water Compact program, which aims to improve water resource management.

Following the conclusion of the meeting, the parties agreed to continue cooperation and expand initiatives in the discussed areas.

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