Uzbekistan, ADB focus on poverty reduction, joint investment

Uzbek President Shavkat Mirziyoyev met with Asian Development Bank (ADB) Vice-President Yingming Yang to discuss expanding strategic cooperation and investment opportunities. 

During the “From Poverty to Prosperity” international forum in Namangan, the leaders focused on practical measures to support Uzbekistan’s irreversible reform strategy, Caliber.Az reports, citing Mirziyoyev's press service.

Yang conveyed greetings from ADB President Masato Kanda and congratulated Uzbekistan on the successful organisation of the forum. The leaders discussed practical ways to expand cooperation with the bank as part of the country’s strategy of irreversible reforms, noting the high level of engagement in recent years.

Currently, the ADB project portfolio in Uzbekistan totals $14 billion, covering sectors including green energy, transport, digital transformation, and education.

President Mirziyoyev advocated preparing a new Strategic Partnership Program with the ADB, encompassing infrastructure development, public-private partnerships, business, social programs, and the capital market. Particular focus was placed on poverty reduction initiatives, critical mineral processing, budgetary support, and the creation of a joint investment platform.

The meeting also addressed preparations for hosting the ADB Annual Meeting of the Board of Governors in Uzbekistan next year.

By Khagan Isayev