Minister of MIIT in Uzbekistan elected chairman of AIIB Management Board

A delegation from Uzbekistan actively participated in the 8th annual meeting of the Board of Directors of the Asian Infrastructure Investment Bank (AIIB), held in  Sharm el-Sheikh, Egypt. The two-day event, featuring discussions on crucial infrastructure investment and development issues, marked a significant moment for Uzbekistan's engagement with the international financial institution.

The meeting, which took place on September 25-26, delved into essential topics that hold profound importance for the region. The agenda included discussions on "The role of international financial institutions in eliminating the lack of investments in the infrastructure sector" and "The water and energy problem of Central Asia: ensuring sustainable development in Uzbekistan."

During the event, Mr. Laziz Qudratov, the Minister of MIIT Uzbekistan, and the Manager of the Asian Infrastructure Investment Bank (AIIB) from Uzbekistan, took the stage during a business session to inform participants about the favorable conditions for investment and business activities in Uzbekistan. He emphasized the benefits and preferences available to investors, highlighting the constitutional guarantees of investors' rights in the country.

One of the noteworthy outcomes of the meeting was the decision of the AIIB Management Board to approve Uzbekistan's proposal to host the bank's next annual meeting. The 2024 annual meeting is set to take place on September 25-26 in the historic city of Samarkand, Uzbekistan.

Mr. Laziz Qudratov, representing Uzbekistan, was elected as the Chairman of the Board of Directors of AIIB, a decision reached through a voting process. 

This development comes on the heels of AIIB's intention to strengthen its collaboration with Uzbekistan, announced in July. Notably, the AIIB has already approved three credit lines totaling $415mn for projects in the energy sector in Uzbekistan, all without the need for a state guarantee, since March 2023.

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