Deputy Prime Minister and Minister of Economy and Finance, Jamshid Kochkarov, engaged in discussions with a high-level delegation from the World Bank, led by Tatiana Proskuryakova, the Regional Director of the World Bank for Central Asia.
The meeting commenced with Tatiana Proskuryakova expressing sincere gratitude to Deputy Prime Minister Kochkarov for his instrumental role in advancing the country's report on climate and development. Proskuryakova acknowledged Kochkarov's commitment and highlighted that open and collaborative relationships form the bedrock of progress and the achievement of important milestones.
One of the focal points of the meeting was the presentation of information about the World Bank's projects slated for the upcoming 2024 financial year. The discussions also delved into operational matters pertaining to the portfolio of investment projects and the ongoing collaboration with Uzbekistan.
Crucially, the parties deliberated on a joint initiative aimed at curbing greenhouse gas emissions. The meeting further addressed issues related to programs geared towards the development of renewable energy sources, recognizing them as pivotal components in the pursuit of sustainable development and environmental protection.
In a joint statement following the meeting, both parties underscored the paramount importance of transparency and openness in their collaborative efforts. They emphasized that a strategic partnership between Uzbekistan and the World Bank is essential for fostering economic growth and bolstering social infrastructure within the country.
The World Bank affirmed its commitment to supporting Uzbekistan in realizing its common goals for sustainable development and overall prosperity. The delegation expressed readiness to continue and expand their cooperation, highlighting the enduring nature of the strategic partnership between Uzbekistan and the World Bank.
World Bank’s Projects in Uzbekistan
The World Bank works with member countries to reduce poverty and support sustainable development through various projects and programs. These projects often focus on areas such as infrastructure development, education, healthcare, agriculture, and governance. The specific projects in a country can vary based on its needs and priorities. World Bank initiatives in Uzbekistan span across crucial sectors, including energy, livestock, renewable energy, infrastructure, and financial reform.
Currently, Uzbekistan stands as the third-largest recipient of World Bank assistance in the Europe and Central Asia region, and it holds the highest allocation from the International Development Association (IDA) among countries in the same region. Here's an overview of some of the ongoing projects in Uzbekistan:
- Uzbekistan Syrdarya Efficient Power Generation Project
The primary goal of this project is to enhance flexible and efficient electricity generation, aligning with a least-cost pathway to decarbonize power supply in Uzbekistan. The core component involves the construction and operation of a 1,573-MW combined-cycle gas turbine (CCGT) power plant. The National Electric Grid of Uzbekistan (NEGU) will purchase electricity from the plant, supported by an International Bank for Reconstruction and Development (IBRD) payment guarantee. The project's overall cost amounts to $1.08bn.
- Second Livestock Sector Development Project
This initiative focuses on supporting the development of a productive, market-oriented, sustainable, and inclusive livestock subsector in Uzbekistan. With an emphasis on market-oriented practices, the project aims to boost the overall productivity of the livestock industry. The total expenditure for the project comes to $240mn.
- Uzbekistan Scaling Solar 2 Independent Power Producer
The Scaling Second Solar Independent Power Producer (IPP) Project aims to increase renewable energy generation in Uzbekistan through private-sector participation. The project involves the construction and operation of two 220-MW solar power plants in Jizzakh and Samarkand, with the NEGU purchasing electricity from these plants. IBRD project-based payment guarantees support the financial aspects of the endeavor. The project incurs a total cost of $418mn.
- Clean Energy for Buildings in Uzbekistan
This project aims to improve energy efficiency in public buildings and enhance the regulatory framework for clean energy investments in the buildings sector. By promoting cleaner and more energy-efficient practices, the initiative contributes to a sustainable and environmentally friendly urban infrastructure. The comprehensive cost of the project reaches $185.9mn.
- Financial Sector Reform Project
Focusing on financial resilience and inclusivity, this project supports the restructuring and privatization of state-owned banks. Additionally, it aims to increase financial resilience to disasters and expand finance for exporting Micro, Small, and Medium-sized Enterprises (MSMEs). The project's overall cost amounts to $15mn.
"The World Bank remains committed to its collaboration with the government to assist Uzbekistan in realizing its central development objectives by 2030," - The World Bank
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