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Uzbekistan and AIIB build cross-border projects successfully - minister

Economy Materials 25 September 2024 13:17 (UTC +04:00)
Uzbekistan and AIIB build cross-border projects successfully - minister
Maryana Ahmadova
Maryana Ahmadova
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SAMARKAND, Uzbekistan, September 25. Uzbekistan successfully cooperates with the Asian Infrastructure Investment Bank (AIIB) in the development of cross-border projects, the country's Minister of Investment, Industry and Trade Laziz Kudratov said, Trend reports.

He made the remark at the seminar "Promoting Resilient Connectivity in Asia and Beyond" as part of the bank's annual Board of Governors meeting in Samarkand today.

"I would like to particularly emphasize the importance of AIIB's target for cross-border projects, which envisions allocating 25-30 percent of the total financing by 2030. Uzbekistan is actively cooperating with the bank and other partners to develop high-quality border projects that will serve as a foundation for sustainable development. As of 2023, such projects account for 53 percent of AIIB’s financing," the minister explained.

According to him, it's necessary to more actively involve the private sector, harmonize the regulatory framework, and jointly seek solutions that contribute to effective connectivity.

"That is why today's exchange of experiences and opinions is of critical importance. It enables us to share best practices, learn from each other, and identify key areas where we can focus our efforts to achieve tangible results.

We hope that today's dialogue will stimulate the creation of economic corridors that will promote trade development, attract investment, and foster mutual growth. In today's interconnected world, physical infrastructure alone is not enough - digital transformation is crucial for building sustainable links.

Uzbekistan is diligently executing a comprehensive digitization strategy to enhance technology infrastructure, advance e-commerce, and optimize public services. Regional collaboration in establishing secure, dependable, and interoperable digital platforms is highly significant. Sustainability must encompass both connection and environmental considerations.

We cannot prioritize growth over the preservation of nature. Uzbekistan is dedicated to advancing sustainable infrastructure that mitigates carbon emissions and fosters environmental stewardship.

We are increasing investments in public transportation, railroad electrification, and renewable energy sources to ensure that our connectivity initiatives meet environmental standards. We call on our partners in Asia and beyond to join forces to make sustainable development a key element of all connectivity projects," the minister added.

To note, AIIB is hosting its first annual Board of Governors meeting in Central Asia, themed "Building Resilient Infrastructure for All," in Samarkand on September 25-26.

More than twenty-five panel talks will cover topics such as digital transformation of infrastructure projects, renewable energy, climate resilience, and innovative infrastructure financing.

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