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ADB to prioritize Uzbekistan’s transformation to market-based economy through reforms

21 October 2021 [11:31] - TODAY.AZ

By Trend

Asian Development Bank (ADB) will prioritize Uzbekistan’s transformation to market-based economy through reforms, regional connectivity and cooperation, and sustainable and inclusive growth in planning its assistance, an ADB representative told Trend.

The representative stated that ADB assists Uzbekistan with innovative financing instruments such as partial credit guarantees and public-private partnership schemes, consistent with Uzbekistan’s pursuit of engaging private investments in public infrastructure projects.

"In line with Uzbekistan’s ambitious plan to transform to green economy, ADB will expand its operations the country’s power generation from renewable sources through public and private financing," the representative added.

According to the representative, ADB provides not only finance, but also policy advice and innovative solutions to Uzbekistan.

"We are helping the government to implement its ambitious reform agenda in accordance with good international practice. This involves helping to improve the governance of state-owned enterprises and changing the role of the state to be an enabler for private sector development," the representative noted.

Lastly, the representative added that ADB plans to remain Uzbekistan’s leading development partner and trusted advisor in reforming strategic sectors such as energy, transport, and water supply and sanitation, and rehabilitating infrastructure to improve livelihoods of its population and create enabling environment for private sector.


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