In the first quarter of 2024, Uzbekistan witnessed significant advancements in its public-private partnership (PPP) endeavors, marking a stride towards modernization and development, the Ministry of Economy and Finance of Uzbekistan reported . With 25 agreements and partnerships totaling $312mn, Uzbekistan is forging ahead in various sectors, promising economic growth and improved public services.
Collaborating closely with ministries and agencies, the government inked agreements for 25 PPP projects, boasting a cumulative value exceeding $311.65mn. Among the flagship projects is the construction and management of a 200 MW wind power plant, equipped with an electric energy storage system, in the Republic of Karakalpakstan. The project, awarded to Saudi Arabian company "ACWA Power," stands at an impressive $262.65mn and received backing from the European Bank for Reconstruction and Development, solidifying international support and investment in Uzbekistan's energy sector.
Moreover, the quarter witnessed strides in critical areas such as water management, education, and culture. Ten projects in water management, totaling $26.38mn, aim to address the nation's water resource challenges, ensuring sustainable usage and conservation. Nine education-focused projects, valued at $20.46mn, underscore the government's commitment to enhancing educational infrastructure and access. Additionally, investments totaling $2.14mn were allocated to five cultural projects, emphasizing the importance of preserving Uzbekistan's rich heritage and promoting cultural exchange.
Furthermore, the government demonstrated its dedication to fulfilling its PPP commitments by diligently monitoring the progress of 198 projects signed in the first quarter of 2024. This proactive approach, outlined in the President's directive dated April 10, 2023, highlights Uzbekistan's emphasis on accountability and efficiency in executing PPP initiatives.
In a pivotal move towards bolstering PPP capabilities, Uzbekistan entered into a €10mn contract with the European Bank for Reconstruction and Development on March 2, 2024. The agreement, coupled with the establishment of the "Fund for the Development of Public-Private Partnership Projects in Uzbekistan," underscores the nation's commitment to fostering an enabling environment for sustainable PPP growth. This fund will serve as a catalyst for future PPP projects, facilitating investment and ensuring their successful implementation.
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