Representatives of Uzbekistan held a meeting with the Executive Director of IFCD
Tashkent, Uzbekistan (UzDaily.com) – On 20 February 2020, representatives of the embassies of Uzbekistan, Kazakhstan, Kyrgyzstan, Tajikistan, Afghanistan, the US-Uzbekistan Chamber of Commerce, as well as Caterpillar Inc., Chevron, AGCO Corporation, ExxonMobil, General Motors and other entities met with Adam Boiler, Executive Director of the United States International Financial Development Corporation (IFCD).
The US International Development Finance Corporation was established in October 2019 on the basis of the Private Foreign Investment Corporation, which also combines the functions of the United States Agency for International Development with a budget of more than US$60 billion.
During the meeting, representatives of the Embassy of Uzbekistan informed in detail about ongoing reforms in our country aimed at liberalizing the economy by reducing the role of the state in favor of the private sector and attracting large investors to privatize state assets.
The head of the IFCD highly appreciated the attention of the Government of Uzbekistan to improving the business environment, optimizing public administration, and the process of introducing market mechanisms into the country's economy. As emphasized, the corporation has identified Central Asia as a priority region for investment.
Adam Boiler expressed his readiness to implement "development programs" in the region through the allocation of financial resources and technical assistance to the private sector and government for the implementation of investment projects aimed primarily at introducing advanced American technologies and management to priority sectors that contribute to the creation of new jobs and rural development locality, providing the population with access to infrastructure, education, healthcare and housing, as well as the development of alternative energy . For these purposes, as noted, the corporation is ready to consider opening a regional office in Central Asia.
During the negotiations, the issues of implementing infrastructure projects on the principles of public-private partnership in Uzbekistan together with large American companies with financial support from the corporation, as well as attracting grant funds aimed at introducing American experience in developing high-quality feasibility studies in the republic, were separately discussed.
Following the meeting, a joint “initiative group” was created to further discuss the timely implementation of the agreements reached.