Tashkent, 4 February 2022 (TDI): Asian Development Bank (ADB) confirmed recently that the bank plans to support private sector-led development in Uzbekistan with a special emphasis on renewable energy as the country moves towards new development goals.

Uzbekistan’s new national development strategy aims to put the people at the forefront by improving their livelihoods and developing social infrastructure and reforming the state. This development strategy is stated to run from 2022 through to 2026.

Sardor Umarkazov, the deputy Prime Minister of Uzbekistan appreciated the Asian Development Banks’ ongoing support for the country. He has highlighted the ADB’s role in reinvigorating Uzbekistan’s road and infrastructure covering many areas of the economy. He also requested ADB to increase support for Human Capital Development and engage the private sector.

In 2022, ADB will provide assistance to Uzbekistan for renewable energy, including solar and wind, the country aims to consume 25% of all energy from renewable sources by 2030. So far the ADB has invested $17.5 million in renewable energy in the private sector and also helped to secure public-private-partnership contracts in renewable energy programs.

Additionally, The ADB will also help the country with mortgage market development and project readiness financing, while also working towards increasing private sector operations.

“As Uzbekistan’s long-term development partner, ADB will continue to help strengthen the government’s capacity to meet its goals, increase the country’s renewable energy sources, and assist in its overall development efforts.” -Masatsugu Asakawa, President of the Asian Development Bank.

The ADB will also help the country in organizing a platform for Development coordination roundtable meetings and help build up Uzbekistan’s capacity for international cooperation and development.

Ever since Uzbekistan joined the Asian Development Bank in 1995, more than $10 billion in support has been provided to help with the countries development.