The Minister of Investments, Industry and Trade of Uzbekistan, Laziz Kudratov, recently convened a meeting with Ludger Schuknecht, Vice-President of the Asian Infrastructure Investment Bank (AIIB) to discuss enhancing bilateral relations between Uzbekistan and AIIB and the upcoming meeting in September of this year.
Strategic Cooperation Program and Memorandum Signing
A pivotal outcome of the high-level engagement was the agreement on a cooperation program aimed at financing joint projects valued at $2.5bn between Uzbekistan and AIIB for the period of 2024-2026.
This program underscores the commitment of both parties to advancing mutual interests and fostering sustainable development initiatives. Furthermore, during the annual meeting of the AIIB Board of Directors scheduled for September 25-26, 2024, a memorandum of understanding will be signed in the historic city of Samarkand.
Focus on Diverse Sectors for Collaborative Endeavors
The dialogue between Minister Kudratov and Vice-President Schuknecht delved into various facets of collaborative projects, encompassing sectors such as energy, agriculture, transport, healthcare, and water supply. These discussions underscored the comprehensive nature of the cooperation program for 2024-2026, reflecting the shared commitment to addressing key developmental challenges and fostering socio-economic progress.
Additionally, preparations for the 9-year meeting of the AIIB Board of Directors, scheduled to be held in Samarkand in 2024, were deliberated extensively.
Both parties outlined plans to organize roadshows and presentations in different countries to promote the event effectively. Furthermore, the development of a joint "Roadmap" to address organizational and substantive aspects of the meeting was emphasized, reflecting the meticulous planning underway to ensure the success of this significant gathering.
Earlier, it was reported that During his state visit to China, President Shavkat Mirziyoyev of Uzbekistan visited the headquarters of the Asian Infrastructure Investment Bank (AIIB) to engage in discussions with the bank's president, Jin Lixun.
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