Why is this important
The Asian Development Bank remains one of Uzbekistan’s largest international financial partners and is involved in financing large-scale reforms and infrastructure projects. The signing of a new partnership program through 2030 secures long-term cooperation across several areas at once — from mortgage finance and business support to education, digitalization, and infrastructure modernization. At the same time, the expansion of the project portfolio shows that Uzbekistan continues to maintain a high level of international financing for economic and social programs.
What happened
- President of Uzbekistan Shavkat Mirziyoyev held a meeting in Samarkand with a delegation from the Asian Development Bank led by the bank’s president, Masato Kanda.
- The sides discussed practical issues related to expanding cooperation between Uzbekistan and the ADB.
- Following the talks, a ceremony was held to exchange the Partnership Program between Uzbekistan and the ADB through 2030.
- During the meeting, the sides also confirmed their readiness to jointly implement new projects and programs.
Numbers and facts
- The new Partnership Program between Uzbekistan and the ADB through 2030 includes projects worth $12.5 billion.
- The document was signed as part of the summit taking place in Samarkand.
- The sides emphasized the importance of timely and effective implementation of the projects предусмотренных by the program.
- Among the priority areas of cooperation named were support for the mortgage market, development of the private sector, youth and women’s entrepreneurship, as well as poverty reduction programs.
- Special attention is planned for reforms in inclusive education and the development of human capital.
- The program also includes projects on the introduction of digital innovations and the modernization of infrastructure in special economic zones.
- The sides discussed advancing major infrastructure projects in Central Asia while strengthening the ADB’s role in mobilizing financial resources.
- The current portfolio of joint projects between Uzbekistan and the ADB amounts to nearly $16 billion.
- By volume of operations, Uzbekistan ranks among the Asian Development Bank’s largest partners in the region.
Context
- For Uzbekistan, the new program means preserving access to major international financing in the coming years, including for infrastructure and social projects.
- Businesses and the financial sector may receive additional support through programs for mortgage development, entrepreneurship, and the modernization of special economic zones.
- The expansion of cooperation with the ADB also strengthens the country’s position as one of the key recipients of investment and credit resources from international financial institutions in Central Asia.
- At the same time, the emphasis on digitalization and human capital shows that part of the financing will be directed not only toward infrastructure, but also toward long-term institutional reforms.
