AIIB and Uzbekistan collaborate on diverse project implementation across multiple sectors

The discussions took place during a meeting between Uzbekistan’s President Shavkat Mirziyoyev and AIIB President Jin Liqun at the AIIB headquarters as part of President Mirziyoyev’s official visit to China.

Uzbekistan and the Asian Infrastructure Investment Bank (AIIB) are actively engaged in vital projects such as energy, water supply, road and railroad reconstruction, and entrepreneurship development, according to Trend. The discussions took place during a meeting between Uzbekistan’s President Shavkat Mirziyoyev and AIIB President Jin Liqun at the AIIB headquarters as part of President Mirziyoyev’s official visit to China.

The partnership’s focal points extend beyond mere project implementation, reflecting a broader commitment to strategic expansion. Recent years have witnessed an unprecedented surge in cooperation, with joint projects amassing a substantial portfolio exceeding $3 billion. Notably, attracted investments soared to $1 billion in 2023, underscoring the mutually beneficial nature of this collaboration.

President Mirziyoyev articulated his support for enhanced financing, emphasizing a focus on projects involving the deep processing of strategic raw materials and the execution of socially significant programs through public-private partnerships. Aligned with ongoing structural reforms, Uzbekistan has adopted a cooperation program until 2026, prioritizing projects in key areas.

The meeting also placed considerable emphasis on supporting strategically crucial infrastructure projects in the Central Asian region. Addressing future collaboration, discussions revolved around the practical aspects of preparing and hosting the annual meeting of the AIIB Board of Governors scheduled for September in Samarkand.

A noteworthy highlight of the collaboration involves the AIIB’s investment of $25 million in Uzbek Industrial and Construction Bank (Uzpromstroybank) sustainability bonds. These funds are earmarked for green projects aimed at improving energy efficiency, reducing greenhouse gas emissions, ensuring water security, supporting women-led initiatives, and financing small and medium-sized businesses.