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Asian Infrastructure Investment Bank

Uzbekistan Explores Enhanced Cooperation with Asian Infrastructure Investment Bank

Tashkent, March 10, 2024, The Europe Today: The Minister of Investments, Industry, and Trade of Uzbekistan, Laziz Kudratov, recently convened a meeting with the Vice-President of the Asian Infrastructure Investment Bank (AIIB) to discuss the burgeoning bilateral relations between Uzbekistan and the bank.

The meeting marked a significant uptick in the developmental dynamics between Uzbekistan and AIIB, particularly following President Shavkat Mirziyoyev’s visit to the AIIB headquarters in January this year. The subsequent cooperation program, envisaging joint project financing worth $2.5 billion between Uzbekistan and AIIB for 2024-2026, underlines the commitment to mutual growth.

After the visit, both parties signed a Memorandum during the AIIB Management Board’s Annual Meeting scheduled for September 25-26, 2024, to be held in Samarkand. The memorandum outlines collaboration in diverse sectors such as energy, agriculture, transport, healthcare, and water supply.

In the recent meeting, the discussions centered on project implementation, exploring new initiatives, and envisioning future collaborations within the framework of the 2024-2026 cooperation program. Priority areas, including energy, agriculture, transport, healthcare, and water supply, were thoroughly examined for potential joint ventures.

Particular attention was devoted to preparations for the 9-year meeting of the AIIB Board of Directors scheduled to take place in Samarkand in 2024. The agenda included plans for road shows and presentations in various countries to bolster awareness and support. Both parties expressed their commitment to developing a joint “Road Map” outlining the organization and content of the event.

The meeting concluded with a mutual pledge to broaden the scope of cooperation, emphasizing an increase in financial and technical support. The timely implementation of discussed projects and initiatives is expected to be actively pursued, fostering sustained collaboration and mutual growth in the future.