BAKU, Azerbaijan, November 2
By Nargiz Sadikhova - Trend:
The Government of Japan is partnering with International Financial Corporation (IFC) to help modernize Uzbekistan's cotton and fertilizer industries and support economic growth, Trend reports citing IFC.
Almost $2 million from the Comprehensive Japan Trust Fund will help IFC deliver two modernization initiatives. One project aims to improve cotton farming and labor practices in Uzbekistan’s cotton sector by developing and introducing a sustainable cotton standard system with market and demand-driven incentives.
The Government of Japan is also supporting IFC to work with the Government of Uzbekistan to create a level playing field in the fertilizers sector and to foster the enabling environment needed to attract international companies to invest in a sustainable chemical industry.
“The Government of Japan expects these two projects will help reform these historically significant industries with international standards and valuable input from IFC. We hope the projects can attract more foreign investment and trade into these sectors, including those from Japanese companies,” said Yoshinori Fujiyama, Japan’s Ambassador to Uzbekistan.
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