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EDB is ready for full-scale cooperation with Uzbekistan

During his stay in the Russian Federation, Deputy Prime Minister – Minister of Investments and Foreign Trade of the Republic of Uzbekistan S.Umurzakov held a meeting with the Chairman of the Board of the Eurasian Development Bank N.Podguzov.

During the meeting, the parties discussed the current state of cooperation, the progress of cooperation on the elaboration of joint projects, and other topical issues.

It was noted that at the moment a portfolio of promising projects has been formed to modernize the basic infrastructure, develop water management and the healthcare system. Further steps were considered to promote these projects and attract EDB funds for their implementation.

The perspectives for establishing direct cooperation and exchange of experience between the EDB and the Agency for Strategic Development of the Republic of Uzbekistan were discussed. The Bank’s management expressed readiness to provide consulting assistance to the Agency in the areas of management, evaluation, and expertise of investment projects.

Following the meeting, the parties agreed to send an expert group of the Bank to Uzbekistan to substantively discuss the projects under development and to reach specific agreements.

For reference: The Eurasian Development Bank (EDB) is a regional development bank operating in accordance with the interstate agreement of January 12, 2006, signed by authorized representatives of Russia and Kazakhstan. The EDB’s mission is to assist member countries in transition to an open market economy, stimulate economic growth and expand trade as well as economic ties. Currently, EDB members are Russia, Kazakhstan, Belarus, Armenia, Kyrgyzstan, and Tajikistan.