Tashkent, Uzbekistan (UzDaily.com) -- Uzbekistan will acquire additional shares in the authorized capital of the International Bank for Reconstruction and Development (IBRD) and the International Finance Corporation (IFC).

President of Uzbekistan Shavkat Mirziyoyev signed a corresponding resolution on 30 November 2021. It should be noted that both organizations are part of the World Bank Group.

According to the document, Uzbekistan will acquire shares of the IBRD in the amount of US$91.92 million. Payment for the shares in the amount of US$80.45 million will be made upon notification of the IBRD, if necessary.

Also, Uzbekistan will buy IFC shares for US$12.78 million.

The head of Uzbekistan approved the payment schedule for shares of the IBRD (2022-2023) and the IFC (2022-2025).

The Ministry of Justice has been instructed to issue a corresponding legal opinion on the subscription for additional shares in IBRD and IFC in a form acceptable to the WB Group.