Baku, Azerbaijan, Oct. 25
By Nigar Guliyeva – Trend:
The European Bank for Reconstruction and Development (EBRD) is developing a tangible package of additional investment projects for Uzbekistan.
"Our specialists are currently developing a tangible package of additional investment projects in the financial, agricultural and industrial sectors, as well as in the development of municipal infrastructure," EBRD President Suma Chakrabarti said in a letter addressed to Uzbek President Shavkat Mirziyoyev Oct 24.
"We also launched the "Small Business Consulting" program, the first projects of which have already been launched. In addition, we are now finalizing our preliminary diagnosis for the Country Strategy," Chakrabati informed.
He voiced hope that the delegation on the strategy will visit Uzbekistan early next year in order to agree on priorities for the EBRD's long-term activities in the country.
The EBRD Board of Directors unanimously approved financing of the first two projects worth over $ 100 million in Uzbekistan Oct 18.
Chakrabati further informed that the EBRD will resume its country office in Uzbekistan in November.
"I would like to reiterate our strong support for the ongoing reforms in your country, which will be expressed by EBRD First Vice President Phil Bennett and Vice President for Risk Betsy Nelson during their visit to Tashkent in early November," Chakrabarty said.
High-ranking representatives of the bank will take part in the official opening ceremony of the office in Tashkent. The EBRD delegation will also hold a number of meetings in the government and participate in the high-level international conference on security and sustainable development in Central Asia scheduled for November 10-11 in Samarkand.
The relationship between the EBRD and Uzbekistan deteriorated in 2003, a year later the bank restricted lending in Uzbekistan. By 2007 the allocation of funds for new projects in the country had completely ceased. A total of 54 projects were implemented through the bank's financing for more than $ 500 million.