Cooperation with international financial institutions expands
A meeting was held between the First Deputy Minister of Economy and Finance Ilhom Norqulov and Cecile Thioro Niang, Practice Manager for Finance, Competitiveness and Innovation at the World Bank.
During the dialogue, attended by ministry specialists, representatives of the Entrepreneurship Development Company, and World Bank project managers in Uzbekistan, the parties discussed ways to support small and medium-sized businesses, increase export potential, attract investment, and create jobs for the population, especially young people.
The parties also considered the next stages of the initiative to establish a small-business and jobs coalition, with participation from representatives of international financial institutions, government agencies, and the private sector. As noted, this platform is designed to coordinate programs and resources to support entrepreneurship.
Views were exchanged on improving the business environment, expanding access to financial resources, using grant funds effectively, attracting private investment, and developing the necessary infrastructure.
During the talks, the project “Access to Finance for Job Creation and Business Growth”, implemented jointly with the World Bank, was also discussed. It was noted that the project aims to expand business entities’ access to financial resources, improve guarantee mechanisms, and support innovative business initiatives.
In addition, the main areas of the Startup and Business Investments in Technology project were considered. The initiative aims to support high-potential startups, new exporters, and enterprises to increase their productivity and integrate them into international value chains.
The parties discussed the World Bank’s B-READY study, which is expected to examine business conditions across regions and assess existing practices in areas such as obtaining construction permits, international trade operations and property rights registration.
Nasiba Ziyodullayeva, UzA
