Tashkent, Uzbekistan (UzDaily.com) -- Within the framework of the 32nd Annual Meeting of the Board of Governors of the European Bank for Reconstruction and Development in Samarkand, a meeting was held between Minister of Economy and Finance Sherzod Kudbiev and Chairman of the Japan Bank for International Cooperation (JBIC) Hayashi Nobumitsu.

At the meeting, new promising areas were discussed, as well as projects implemented in Uzbekistan in cooperation with JBIC.

Within the framework of the 32nd annual meeting of the Board of Governors of the European Bank for Reconstruction and Development, an agreement was reached on financing projects to improve the electric power system in Uzbekistan. In particular, JBIC will provide a loan of US$400 million for the construction of a new thermal power plant in Syrdarya region.

 “We have been cooperating with Uzbekistan for several years in various fields. This time, within the framework of cooperation, we are financing a project for the construction of a thermal power plant. During the discussions, it becomes obvious that an important issue is not only the generation of electricity, but also its full delivery to the population. In Japan, there are companies with sufficient experience in this area. By involving them, these problems can be solved,” said Hayashi Nobumitsu.

At the meeting, proposals were presented on the prospects for developing cooperation with the Japanese Bank for International Cooperation in a number of areas, in particular, on the introduction of modern technologies in energy, industry, irrigation, and agriculture. As part of the transition strategy to a green economy in Uzbekistan, it is necessary to provide green and inclusive economic growth, meet commitments under the Paris Agreement, implement innovative carbon trading projects, expand the use of renewable energy sources. Particular attention is paid to the widespread use of "green" principles in all sectors of the economy.