Baku, Azerbaijan, April 11
By Fakhri Vakilov – Trend:
Uzbekistan’s attractiveness to foreign capital is improving thanks to its recent credit rating and successful sovereign eurobond issuance which leads to renewed interest in the country for investment, Asian Infrastructure Investment Bank (AIIB) told Trend in an interview.
However, maintaining this momentum will be challenging, AIIB stated.
Multilateral Development Banks, like AIIB, are well positioned to contribute to the government’s efforts to mobilize private capital to invest in infrastructure in the country through innovative financing instruments and a strong balance sheet.
“Uzbekistan is undergoing reforms and has the potential to re-emerge as a strong economy in the region” AIIB said.
AIIB noted that the Government of Uzbekistan has placed high importance on the development of several key regions in the country, including the Bukhara region.
“Our initial focus will be on reviewing projects associated with the rehabilitation of vital regional roads and the modernization of water and sewerage facilities in small cities in the Bukhara region–infrastructure that would improve the standard of living for local residents” ABII stated.
As a new international financial institution, AIIB’s focus on financing infrastructure projects can contribute to these kinds of investments, which will fast-track economic development in the country.
The bank stressed that it will consider funding projects in the Uzbek Bukhara region if the projects at a minimum align with their thematic priorities–sustainable infrastructure, cross-border connectivity and mobilizing private capital. They anticipate prioritizing road, water supply and sanitation projects from the region.
Asian Infrastructure Investment Bank underlined that they will continue working with Uzbek government to identify projects that will improve lives and livelihoods across the country.
Earlier Trend reported that Uzbek Minister of Investment and Foreign Trade, held a meeting with the leadership of the Asian Infrastructure Investment Bank (AIIB) to intensify investment cooperation with the bank for the development of the infrastructure sector of the Bukhara region.
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