Uzbek President Shavkat Mirziyoyev met World Bank Group President Ajay Banga on 11 November on the sidelines of the 31st UN Climate Change Conference (COP31) in Antalya, Turkey, according to the presidential press service. The talks focused on practical ways to expand the strategic partnership between Uzbekistan and the World Bank, the current joint project portfolio and future priorities. Discussions centred on accelerating economic growth, creating new jobs, attracting private investment and ensuring water security.
Key Takeaways: The bilateral project portfolio has reached nearly $16 billion, the press service said. Priority areas include preparing a new Country Programme, attracting private investment into infrastructure, supporting privatisation and strengthening water security. The sides also discussed preparations for an international forum in Tashkent in December on the medium-term review of International Development Association resources.
The partnership matters for Uzbekistan’s long-term economic stability. World Bank financing and technical support cover infrastructure, energy, agriculture, water resource management and private-sector development. With water scarcity and climate change affecting Central Asia, water security is a strategic issue not only for Uzbekistan but for the wider region. Raising the issue at COP31 gives Tashkent an international platform to link climate adaptation with investment needs.
The meeting paid particular attention to implementing a programme to accelerate growth and create jobs. According to the official readout, the priorities are a new Country Programme with the World Bank, private investment in infrastructure, support for privatisation and water security. These areas are expected to help strengthen public finances, improve the investment climate and raise employment. No specific project list or financing timetable was released in the statement.
The December forum in Tashkent on the medium-term review of International Development Association funds was also discussed. The event could bring together World Bank Group officials and donor partners to discuss Uzbekistan’s development priorities and financing needs. Such a gathering would be watched for signals on future concessional financing and the country’s ability to mobilise private capital alongside public funds.
Looking ahead, the two sides are expected to refine the new Country Programme and prepare detailed proposals on private investment and water security projects. The official readout did not disclose concrete deadlines, but the December forum is likely to serve as the next high-level checkpoint. For Uzbekistan, the key test will be whether the $16 billion portfolio translates into visible results in jobs, infrastructure and resource management.
Source: kun.uz