Uzbekistan Enters the Next Phase of Market Reforms with Renewed Support from the World Bank

World Bank Vice President for Europe and Central Asia, Cyril Muller, welcomed the Government of Uzbekistan’s progress in transforming the economy and pledged the institution’s continued support for further reforms. Visiting Tashkent on January 16-17, he met with President Shavkat Mirziyoyev and senior government and parliamentary officials. 

“Uzbekistan is making strong progress in transforming its economy and building opportunities to improve people’s lives. Translating reforms into better living standards is a challenging process that will take time,” said Mr. Muller. “As the country enters the next phase of complex reforms to build a vibrant economy, the World Bank is increasing its support for the Government’s social and economic priorities through investments in key sectors and advisory services.”

Mr. Muller met with President Shavkat Mirziyoyev, Chairperson of the Senate of Oliy Majlis (Parliament) Tanzila Narbaeva, First Deputy Prime Minister and Minister of Transport Ochilboy Ramatov, Deputy Prime Minister and Minister of Finance Jamshid Kuchkarov, Minister of Investment and Foreign Trade Sardor Umurzakov and other senior officials. 

The discussions focused on the Government’s efforts to strengthen macroeconomic fundamentals; improve the overall business and investment climate; modernize the country’s energy, transport, financial, banking and agriculture sectors; develop public-private partnerships; reform state institutions and state-owned enterprises; expand regional trade and transport connectivity, as well as deliver high-quality public services for citizens while promoting citizen engagement and gender equality.

Following talks with Deputy Prime Minister and Minister of Finance Djamshid Kuchkarov, Mr. Muller participated in a signing ceremony for a World Bank loan ($100 million) supporting the development of basic infrastructure in over 300 villages across Uzbekistan. The financed project will include rehabilitation or construction of kindergartens, schools, health clinics, tertiary roads, water supply and sanitation or solid waste management services for rural residents, etc.

The World Bank has rapidly scaled up its support to Uzbekistan since the start of the country’s transformation in 2017. With 21 projects totaling around $3.5 billion, the World Bank’s program in the country ranks as the second largest in the Europe and Central Asia region. It supports the Government in implementing economic and institutional reforms in agriculture, health, education, water supply and sanitation, energy, transport, social protection, and urban and rural development sectors.