ADB Vice-President Confirms Support for Uzbekistan’s Reforms, Shift to Green Economy

By India Education Diary Bureau Admin On Nov 8, 2022

TASHKENT — The Asian Development Bank (ADB) will continue supporting Uzbekistan’s reforms and efforts to shift to a green economy while helping the country manage the impact of external shocks, ADB Vice-President Shixin Chen said in a series of meetings with senior government officials.

During his visit to Uzbekistan, Mr. Chen met with Deputy Prime Minister, Minister of Investments and Foreign Trade, and ADB Governor Jamshid Khodjaev; Deputy Prime Minister and Minister of Economic Development and Poverty Reduction Jamshid Kuchkarov; Deputy Prime Minister and Minister of Energy Jurabek Mirzamakhmudov; and ADB Alternate Governor and Director General of the Strategic Reforms Agency under the President of the Republic of Uzbekistan Shukhrat Vafaev.

“ADB is committed to Uzbekistan’s strategic development and reform priorities,” said Mr. Chen. “We’re currently developing a new country partnership strategy, and we aim to support the government’s ambition to green the economy and boost resilience by improving human capital development, including education, health care, and social protection. We’ll also continue helping to enhance the country’s competitiveness by promoting greater private sector participation.”

Mr. Chen opened the 2nd Uzbekistan Economic Forum in Samarkand and also participated in the plenary session, where he reiterated ADB’s support for the country’s development priorities, highlighted the importance of private sector development in boosting productivity, and called on the government to continue pursuing public–private partnerships.

Mr. Chen also stressed the importance of social protection and food security, in particular focusing on vulnerable groups, including women and girls, and regional cooperation. Uzbekistan is a member of the Central Asia Regional Economic Cooperation (CAREC) Program, a partnership of countries and development partners working together to promote sustainable development through cooperation.

On the sidelines of the Forum, Mr. Chen witnessed the signing of three transaction advisory service agreements between ADB and the government to prepare and tender multidisciplinary hospitals in Andijan and Bukhara, preschools across the country, and two solar projects under the government’s 1GW National Solar Program.

Last month, ADB approved a $500 million loan to help the government finance social protection, food security, and support businesses amid the COVID-19 pandemic and the Russian invasion of Ukraine, among other external shocks. To help improve food and water security in Uzbekistan, in September ADB approved a $150 million loan and a $3 million grant. To support renewable energy and energy efficiency, in the same month, the bank signed a private sector agreement to build a 500-megawatt wind power plant in Zarafshan city, Uzbekistan’s first wind power plant and the largest in Central Asia.

Uzbekistan joined ADB in 1995. Since then, ADB has committed loans, grants, and technical assistance amounting to $10.5 billion to the country.

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.