On July 17, 2019, First Deputy Chairman of the Senate of the Oliy Majlis Sodik Safoyev held talks with the Vice President of the World Bank Group Ceyla Pazarbasioglu with the participation of leading experts of the International Finance Corporation.
The state and prospects of active cooperation in the implementation of large-scale reforms through financing by the World Bank of projects in key sectors of the country’s economy were discussed at the meeting. Ceyla Pazarbasioglu stated that the World Bank pays priority attention to the development of cooperation with Uzbekistan, highly appreciates and supports the current reforms in the country, as well as its role in ensuring the economic progress of the Central Asian region.
Special attention was paid to discussing issues related to joint development and implementation of the capital market development strategy of Uzbekistan, which provides for an integrated approach to the implementation of reforms in this area, by integrating into the global capital market, increasing efficiency in managing the assets of state-owned companies, introducing derivative financial instruments such as commodity futures, creating a favorable financial market infrastructure and business environment, as well as placement of securities of issuers of Uzbekistan in the local market, involving bоth local and foreign investors.
According to Ceyla Pazarbasioglu, active participation of the Oliy Majlis in this process is a significant indicator for the international business community. She noted that the World Bank is ready to continue active participation in supporting economic initiatives of Uzbekistan in this area.
Following the meeting, an agreement was reached on organizing a visit by specialists from the World Bank and the International Finance Corporation to Uzbekistan for a detailed discussion of joint actions aimed at developing and implementing a strategy for developing the capital market of the country
