Samarkand Selected as Venue for Prestigious AIIB Annual Meeting
Tashkent, The Gulf Observer: The Minister of Investment, Industry, and Trade of Uzbekistan, Laziz Kudratov, held a significant meeting with the Vice President and Corporate Secretary of the Asian Infrastructure Investment Bank (AIIB), Ludger Schuknecht, in Tashkent. The gathering aimed to reinforce the bilateral relations between Uzbekistan and AIIB, particularly in the wake of President Shavkat Mirziyoyev’s visit to AIIB headquarters in January this year, as reported by the Ministry of Investment, Industry, and Trade (MIIT).
During the meeting, both parties acknowledged the positive momentum in the development of bilateral ties and highlighted the substantial strengthening of relations post-President Mirziyoyev’s visit to AIIB. The outcome of this momentum materialized in the signing of a Cooperation Program for financing joint projects totaling $2.5 billion between Uzbekistan and AIIB for the period 2024-2026. Additionally, a Memorandum was signed, designating Samarkand as the venue for the AIIB Annual Meeting on September 25-26, 2024.
The discussions encompassed a comprehensive review of the ongoing projects and explored prospects for new collaborative initiatives in key sectors such as energy, agriculture, transport, healthcare, and water supply. These initiatives are integral components of the Cooperation Program spanning 2024-2026.
Particular attention was dedicated to the preparation of the Ninth Annual Meeting of the AIIB Board of Governors, scheduled to take place in Samarkand. Plans for roadshows and presentations in various countries were outlined, and a joint roadmap addressing organizational and substantive aspects of the event will be developed.
The concluding sentiments of the meeting expressed a mutual commitment to expanding the scope of cooperation, emphasizing an increase in the volume of financial and technical assistance. A robust framework for continued active interaction was devised, focusing on the timely implementation of ongoing projects and the successful realization of new initiatives.
This collaborative effort marks a pivotal juncture in the strategic partnership between Uzbekistan and AIIB, paving the way for impactful projects that contribute to the socio-economic development of Uzbekistan and the broader region.
