Baku, Azerbaijan, December 13. European Bank for Reconstruction and Development (EBRD) and Uzbekistan agree to broaden collaboration in various key areas, TurkicWorld reports.

The agreement was reached during a meeting between Uzbekistan's Deputy Minister of Foreign Affairs, Bobur Usmanov, and the EBRD's Secretary-General, Kazuhiko Koguchi, in the UK.

Both parties agreed that the bank will actively participate in the transformation and privatization of state firms and banks in Uzbekistan. They also talked about how to put programs like green development, clean energy, transportation, women's and youth entrepreneurship, drinking water supply, digitization, and others into action.

The meeting aimed to strengthen Uzbekistan's dynamic partnership with the EBRD by concentrating on future initiatives. The emphasis was particularly on realistically implementing the accords achieved on the sidelines of the World Climate Summit in Dubai on December 1 during a meeting between President Shavkat Mirziyoyev and EBRD President Odile Renaud-Basso.

As of October 31, 2023, the bank had invested about 4.47 billion euros on 146 projects in Uzbekistan.