The Ministry of Finance of the Republic of Uzbekistan published an update on a meeting between Deputy Prime Minister and Minister of Economy and Finance Jamshid Kuchkarov and a delegation led by European Bank for Reconstruction and Development President Odile Renaud-Basso. The talks focused on current cooperation, joint projects and priority areas for further work, while the meeting also saw new cooperation agreements signed by the EBRD with JSCB Uzsanoatqurilishbank and the Uzbekistan Mortgage Refinancing Company. The ministry said the agreements are intended to expand the use of financial instruments in Uzbekistan, including support for small and medium-sized businesses, broader financing opportunities for young entrepreneurs and development of the mortgage market. Broader discussions covered projects with the EBRD across the financial sector, infrastructure, energy, transport and the private sector. The sides also exchanged views on the transformation and privatization of state-owned banks, with emphasis on improving corporate governance, assessing asset quality, introducing international standards and increasing private capital participation. The meeting also addressed Uzbekistan's macroeconomic agenda, including inflation reduction, budget discipline and reforms under the Uzbekistan 2030 strategy. The sides agreed to continue practical dialogue on expanding strategic cooperation, financial sector reform, private sector support, and development of infrastructure and capital markets.

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