The main objective of this year’s Portfolio Review is: (i) to review progress portfolio implementation and achievements of planned project milestones; and (ii) to identify project implementation bottlenecks, develop acceptable solutions and take actions to improve results-oriented portfolio performance.

The participants including the representatives of executive agencies, Project Implementation Units (PIUs) and central government, reviewed project performance and progress towards portfolio milestones and discussed project implementation issues; analyzed the state of fiduciary issues in the FY08 portfolio - procurement, financial management, and disbursement; discussed and agreed on a joint action plan to further improve portfolio performance.

Being a good opportunity to have a look at the portfolio status and outline further strategy, CPPR exercise is usually undertaken jointly by the Bank and the borrower. It helps to identify problems and agree on joint actions to enhance the portfolio.

The Government of Uzbekistan and the World Bank have built a good record of implementation of the recommendations of previous CPPRs.