Asian Development Bank managers visited Uzbekistan to strengthen ties

Uzbekistan. Tashkent ("Uzbekistan Today":www.ut.uz)"ADB is committed to helping Uzbekistan achieve growth by pursuing stronger assistance in economic reforms," Mr. Miranda said. "We look forward to contributing to the country's growth for years to come."
Discussions focused on establishing a long-term partnership with Uzbekistan in sectors that the Government considers vital and where ADB can provide value-added services focused on both quality and quantity of its assistance.

The ADB team noted the progress made in some aspects of economic reforms such as the ongoing public finance management reform, and reconfirmed ADB's continuing commitment to provide support to meet Uzbekistan's development needs.

This is the second visit by the regional management team this year as a result of an agreement both sides reached in January to have regular high-level meetings to enhance cooperation.

ADB is considering providing Uzbekistan with up to $500 million in loans over the next three years in priority sectors, including public finance, rural development, basic education, urban and rural water supply and sanitation, transport, irrigation and microfinance. In the course of the talks the parties discussed the establishment of long-term cooperation in the sectors of economy which the Government finds to be especially important and to which ADB may provide quality services. ADB delegation noted on the progress in economic reforms in the country, including the reforms in the management of state finances, and confirmed its readiness to provide assistance in the achievement of development goals in Uzbekistan.

Both sides also discussed the possibility of ADB initiating private sector operations in Uzbekistan, including investments in commercial banks, insurance and leasing companies.

The two sides expressed their willingness to develop a long-term vision for development and a roadmap to be able to achieve it.
The parties also discussed the possibility of ADB's launching operations in the private sector of Uzbekistan, including investments in commercial banks and telecommunications sector. Both parties expressed their support of the development of long-term country development strategy. The goals pursued by the Asian Development Bank include the reduction of poverty in the countries of Asia and Pacific region through sustainable economic growth, social development and good governance. Founded in 1966 ADB now has 67 members, of which 48 are in the Asian-Pacific region. In 2006 ADB approved loans and grants as a part of technical assistance for the total amount of US$8.5 billion and US$242 million respectively. - Source: www.ut.uz