TASHKENT, Uzbekistan, September 13. Uzbekistan and the World Bank (WB) discussed the application of new alternative finance instruments in the country, Trend reports.
The matter was reviewed during a meeting between Uzbekistan’s Deputy Prime Minister, Minister of Economy and Finance Jamshid Kuchkarov and the World Bank delegation led by the Bank's Regional Director for Central Asia Tatiana Proskuryakova.
During the meeting, the sides discussed the prospects of cooperation for the current and subsequent years. In addition, issues of cooperation in the water and energy sectors were discussed.
The parties also noted the issues of developing innovative financing mechanisms that promote regional development.
At the same time, the participants highlighted the significant success in cooperation, and an increase in the number and improvement in the quality of joint projects in various sectors of the economy.
Meanwhile, the World Bank has transferred the first tranche of funds in the amount of $7.5 million for the application of the innovative carbon resources for energy reforms project (iCRAFT) in Uzbekistan.
The iCRAFT project is breaking new ground as the first global initiative to lend a helping hand in energy reforms in Uzbekistan, with the World Bank in the driver's seat.