Baku, Azerbaijan, Oct. 4
Trend:
The Board of Directors of the European Bank for Reconstruction and Development (EBRD) has approved a new strategy for Uzbekistan which sets out the Bank’s priorities in the country for the next five years, the EBRD said in a message on its website.
The strategy reflects recent changes in Uzbekistan’s political and macroeconomic environment and is aimed at the creation of an open, integrated and export-driven economy, according to the message.
The new EBRD strategy for Uzbekistan recognizes the need to strengthen the country’s democratic institutions, expand the role of civil society, provide greater freedom to mass media and promote women’s entrepreneurship.
The bank will also continue monitoring progress on the eradication of forced and child labor in sectors such as the cotton growing industry.
The EBRD’s operational and strategic priorities in Uzbekistan will be based on the following three pillars:
Enhancement of competitiveness by strengthening the role of the private sector.
Promotion of green energy and efficient use of resources.
Support increased regional and international cooperation and integration.
From 1992 to 2010, the EBRD invested 894 million euros in 54 projects in Uzbekistan. By the end of 2017, the bank signed the first six new agreements on operations in the country since 2010, totaling more than 153 million euros.