- 8
- 16.05.2023 14:01:00
- 4 min read
"Daryo" provides information on what kind of organization YTTB is and what issues will be discussed at its meeting in Samarkand.
In Uzbekistan, Yevr
The 32nd annual meeting of the Board of Directors of the sister Bank of Reconstruction and Development has begun. The event is planned to be held under the theme "Investing in Resilience".
More than 2,000 senior government officials, financial and corporate leaders, representatives of civil society and global media will participate in the meeting and business forum.
The event is being held in the Central Asian country for the first time in 12 years. It also provides an opportunity for YTTB to review its achievements over the past year and set future plans.
The main theme of the business forum will be investing in sustainability. The session "On investment prospects of Uzbekistan" is one of the central events of the meeting. It discusses the growth prospects of the country's economy and investment opportunities.
Also, a series of panel discussions with the participation of experts on various topics took place at the three-day event.
What kind of organization is YTTB and what is its main purpose?
The European Bank for Reconstruction and Development is an international financial institution established in 1991.
The main goal of the organization is to help countries transition to a market economy, integrate them into the world economic community, implement structural and economic reforms, including de-monopoly, decentralization, decentralization and privatization, and development of private entrepreneurship.
Since its establishment, the bank has implemented more than 6,500 projects with a total value of more than 180 billion euros.
The highest management body of YTTB is the Board of Directors. The board of directors is headed by the president of YTTB. The current president is a French citizen, Odile Renaud-Basso, who has been in office since July 2020.
The authorized capital of the bank is 30 billion euros. YTTB raises funds by issuing its bonds on international financial markets.
To date, banking activities cover Central and Eastern Europe, Central Asia, the CIS, 35 countries of the Southern and Eastern Mediterranean and Mongolia.
Suma Chakrabarti, the previous president of the organization before Adil Reno-Basso, is an adviser to the President of Uzbekistan Shavkat Mirziyoyev on issues of economic development, effective management and international cooperation. He was appointed as a presidential adviser in 2020. Before that, he worked as the president of YTTB.
What is the level of the organization's cooperation with Uzbekistan?
In 2022 alone, YTTB invested 839 million euros in 26 projects in the country, and Uzbekistan is the country that attracts the most funds from the bank in Central Asia for the third year. Until now, YTTB has invested more than 4 billion euros in 129 projects across Uzbekistan. 70 of them (more than 2.3 billion euros) have been implemented since 2017.
Uzbekistan became a member of the CSTO on April 30, 1992. The country is part of the EBRD's Switzerland Group, which includes Switzerland, Ukraine, Liechtenstein, Turkmenistan, Serbia, Montenegro and Moldova.
The bank's representative office was opened in Tashkent in May 1993, in Andijan in October 2019, and in Urganch in June 2021.
YTTB allocated 839 million euros to projects in 2022, which is 30% more than in 2021.
In the activities of the bank in Uzbekistan, the transformation and privatization of state-owned enterprises and banks, attracting foreign direct investments, supporting green development projects, energy and transport, and introducing effective mechanisms of public-private partnership also focuses on supporting women and youth entrepreneurship programs.
The bank allocated 520 million dollars for the construction of two wind power plants with a total capacity of 1 GW in the Bukhara region. In addition, it is participating in the construction of a 120 km long high-voltage power transmission line between the villages of Sarimay and Jankeldi.
