Uzbekistan and World Bank Agree on New Energy, Transport, and Business Projects

During the Spring Meetings in Washington D.C., Uzbekistan and the World Bank Group have agreed to deepen their partnership, paving the way for new joint initiatives worth hundreds of millions of dollars. The Uzbek delegation was led by Deputy Prime Minister and Minister of Economy and Finance Jamshid Kuchkarov.

Kuchkarov held talks on April 15-16 with World Bank Group President Ajay Banga, Managing Director for Operations Anna Bjerde, and Vice President for Europe and Central Asia Antonella Bassani. The discussions focused on Uzbekistan's economic development results, ongoing reforms to reduce poverty, create jobs, develop the private sector, and modernize key industries with the Bank's support.

A key outcome was the exchange of signed loan agreements with Vice President Antonella Bassani. This formal step unlocks funding for several major new projects.

The largest initiative is a program to develop the electricity market and integrate power systems across Central Asia. Its first phase, involving Uzbekistan, Kyrgyzstan, and Tajikistan, is allocated over $140 million. The project aims to create a regional electricity market, expand grid capacity, and integrate renewable energy sources.

Another project worth $100 million is designed to expand access to financing for businesses. It is expected to provide credit resources to approximately 7,000 micro-, small-, and medium-sized enterprises (MSMEs) and help attract private investment.

A $200 million transport connectivity development project is also under consideration. It targets infrastructure modernization in the Surkhandarya region and broader reforms in the transport sector.

Furthermore, a $10.6 million grant will finance a project to establish a mechanism for detecting and eliminating gas leaks. This initiative aims to reduce losses in the aging transmission system and cut methane emissions.

As of April 1st this year, the World Bank's portfolio in Uzbekistan comprises 27 active projects with total commitments of $5.6 billion. These programs cover key sectors including agriculture, infrastructure, energy, transport, healthcare, education, and social protection.

The government emphasized that cooperation with the World Bank remains a crucial factor in implementing macroeconomic reforms and ensuring the country's sustainable development.