Islam Karimov Receives Vice Presidents of World Bank and International Finance Corporation President of the Republic of Uzbekistan Islam Karimov at the Oqsaroy November 6 met with World Bank Vice President Cyril Muller and International Finance Corporatio

The two officials were visiting our country to attend the International Investment Forum that took place in Tashkent. Greeting the guests, the head of our state said that Uzbekistan highly values its cooperation with the World Bank Group.Our nation has enjoyed constructive bilateral interaction with the World Bank. The collaboration has helped implement 28 joint projects worth more than 6 billion dollars with the Bank funding 2.6 billion dollars. These schemes have covered the energy sector, irrigation and public utilities networks, water supply, industrial and transport and social infrastructures.A special place in the partnership relations between Uzbekistan and the World Bank is attached to cooperation in the healthcare sphere, within the framework of which the latter provided support for the realization of 4 projects with the sum total of soft long-term loans exceeding 300 million dollars.With the International Finance Corporation, which spearheads ventures designed to promote private sector, 20 projects have been undertaken in our country with IFC investments worth 135 million dollars.During the meeting at the Oqsaroy, representatives of the World Bank Group underscored the significance of strategic programs approved in Uzbekistan this year to intensify the reforms, further the structural transformation and diversify the economy, designed for the period of 2015-2019 and aimed at continuing and enhancing the renovation of the economy, renewing and diversifying the manufacturing industry, promoting private property and private enterprise as well as reducing the role and place of the state in the economy in general.The guests noted that the World Bank and the International Finance Corporation are interested to take active part in the processes of cardinal structural transformation of the Uzbek economy. They also expressed support for the successful realization of the approved programs and joint investment projects in key sectors.Currently, the World Bank is about to complete the draft Partnership Strategy for 2016-2020, which envisages the implementation of over 30 schemes in power energy, hydrocarbon industry, transport, healthcare, education, information and communication technologies, public utilities infrastructure and other fields for sums exceeding 4 billion dollars.In addition, promising projects are being elaborated with the International Finance Corporation in petrochemical and chemical industries, in the field of alternative energy sources and the financial sector.The meeting served to exchange views on the priorities of bilateral cooperation and discuss principal dimensions of the enhancement of partnership relations and elaboration of novel projects in prospective spheres.(Source: Press-service of the President of the Republic of Uzbekistan)