MILAN, Italy, May 5. The Asian Development Bank (ADB) will continue supporting the government of Uzbekistan in attracting investors to state-owned enterprises, Kanokpan Lao-Araya, Country Director of the ADB for Uzbekistan, told reporters on the sidelines of the Annual Meeting in Milan, Italy, Trend reports.
“On privatization, ADB has supported the government on reforms for a long time. The Ministry of Economy and Finance has a master plan to do this. And we have been helping state-owned banks strengthen their capacity and ability to find a strategic investor,” she said.
Lao-Araya noted that ADB invested in a senior loan for the Uzbek Industrial and Construction Bank (SQB). “At the moment, they are trying to find a strategic investor to invest in the bank.”
The country director went on to add that ADB invested in the senior convertible loan to encourage the government to find a partner.
“And in terms of other state-owned enterprises, we will continue supporting the government. First thing is to promote transparency, so that the investor can come and invest in this state-owned enterprise and make it more commercial, viable,” she said.