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2018-10-02

European Bank adopts new strategy for work in Uzbekistan

Caravanserai

LONDON -- The European Bank for Reconstruction and Development (EBRD) in September approved its new five-year strategy for Uzbekistan, according to a statement last week.

The document highlights the EBRD's three main strategic goals in Uzbekistan: enhance competitiveness by strengthening the private sector's role in the economy; promote green energy; and support regional and international co-operation and integration.

The strategy identifies the "need to strengthen the country's democratic institutions, expand the role of civil society, provide greater freedom to mass media and promote women's entrepreneurship", according to the website.

Uzbek authorities paved the way for the new strategy with reforms launched in February last year "moving towards a more open, integrated market economic model, improving international relations, strengthening the rule of law and judicial independence and achieving the liberalisation of the foreign exchange rate," said the EBRD.

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