ADB VP Lavasa Reaffirms Support for Uzbekistan's Private Sector Development.

ENPNewswire-September 8, 2021--ADB VP Lavasa Reaffirms Support for Uzbekistan's Private Sector Development

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Release date- 07092021 - ADB VP Lavasa Reaffirms Support for Uzbekistan's Private Sector Development.

[ADB Vice-President for Private Sector Operations and Public-Private Partnerships Ashok Lavasa meets with Deputy Prime Minister, Minister of Investments and Foreign Trade of the Republic of Uzbekistan, and ADB Governor Sardor Umurzakov.]

ADB Vice-President for Private Sector Operations and Public-Private Partnerships Ashok Lavasa meets with Deputy Prime Minister, Minister of Investments and Foreign Trade of the Republic of Uzbekistan, and ADB Governor Sardor Umurzakov.

Asian Development Bank (ADB) Vice-President for Private Sector Operations and Public-Private Partnerships Ashok Lavasa met with senior government officials and key stakeholders in the past week in Tashkent, reaffirming ADB's support for Uzbekistan's reform agenda and efforts to strengthen the private sector.

Mr. Lavasa met with Deputy Prime Minister, Minister of Investments and Foreign Trade, and ADB Governor Sardor Umurzakov; Deputy Prime Minister and Minister of Economic Development and Poverty Reduction Jamshid Kuchkarov; and other government and private sector partners to discuss ADB operations in the country.

'The Government of Uzbekistan has made remarkable progress in developing public-private partnerships in the past few years, particularly given the huge challenges presented by the COVID-19 pandemic,' said Mr. Lavasa. 'ADB reaffirms its comprehensive and integrated support to Uzbekistan including through policy advice, capacity building, transaction advisory support to prepare bankable PPP projects, lending to the government, and direct financing to key private sector entities. Building an enabling environment for a strong private sector and mobilizing the private sector's resources, expertise, and innovation are crucial for sustainable development. ADB will also emphasize diversification by focusing on private sector investment in health, education, and agribusiness.'

Mr. Lavasa commended the government for mitigating the adverse impact of the pandemic on the economy. Mr. Umurzakov thanked ADB for its budget support which enabled increased spending on social protection and was instrumental in Uzbekistan's economic recovery. They also discussed their mutual intentions to incorporate private sector development...

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