Uzbekistan takes part in the Annual Meeting of the Board of Governors of the European Bank for Reconstruction and Development

Tashkent, Uzbekistan (UzDaily.com) -- From 10 to 12 May, the Annual Meeting of the Board of Governors of the European Bank for Reconstruction and Development (EBRD) is being held in a hybrid format in Marrakesh (Morocco). 

The event is attended by Governors and Deputy Governors from 71 shareholders of the Bank, including 69 countries, the European Union and the European Investment Bank, as well as the Bank’s management and international experts. The meeting was attended by the Governor of the European Bank for Reconstruction and Development from the Republic of Uzbekistan, Deputy Prime Minister - Minister of Investments and Foreign Trade Sardor Umurzakov.

On 11 May, as part of the program of the event, a plenary session of the Board of Governors was held, during which they discussed current trends in the global and regional economy, the Bank’s activities to support economic growth in member countries in the post-COVID period, measures to develop a "green" economy and counteract changes climate change, as well as a number of institutional issues related to the operational and financial activities of the EBRD.

Speaking during the plenary session, Sardor Umurzakov noted the sustainable and strategic nature of cooperation between Uzbekistan and the EBRD. It was announced that in 2021 the country became the largest recipient of the Bank’s investments in the Central Asian region and entered the top five recipients of the Bank’s funds, and the volume of investments attracted by the EBRD in the country’s economy in the past year hit a record high, exceeding the mark of 600 million euros.

Readiness was voiced to deepen partnership in priority areas, including: reducing the role of the state in the economy, transforming and privatizing state assets and commercial banks, improving the investment climate, stimulating accelerated industrial development, supporting youth and women’s entrepreneurship, large-scale introduction of "green" technologies in various industries in the light of meeting commitments under the Paris Agreement on climate change.

As a result of the meeting, the Board of Governors adopted a number of decisions that determine the future prospects for the Bank’s activities, including a resolution on a limited and gradual expansion of the EBRD’s activities in sub-Saharan Africa and Iraq. It was also announced that the 32nd Annual Meeting of the EBRD Board of Governors in 2023 will be held in Samarkand. The meeting will take place 16-18 May. A presentation of the investment and tourism potential of Samarkand was made for the participants of the meeting. During the entire event, the stand of the upcoming EBRD event in Samarkand in 2023 was functioning, which aroused great interest among the participants and guests of the Annual Meeting of the Bank.

The Board of Governors also approved the Implementation Plan of the Bank’s Strategy for 2022-2024 and the report on the financial activities of the Bank.

The European Bank for Reconstruction and Development was established on 28 March 1991. The headquarters is located in London. Uzbekistan has been a member of the EBRD since 30 April 1992.