World Bank Portfolio
Number of active projects
In June 2018, the World Bank Group’s (WBG) program for Uzbekistan was adjusted to better respond to the country’s new priorities and development vision based on the Performance and Learning Review (PLR) of the Country Partnership Framework (CPF) for FY2016–20.
Whereas the CPF foresaw a gradual process in line with the priorities of the previous Government, the PLR took into consideration the new Government’s commitment to faster, deeper, and broader reforms. The new focus areas are:
i) a sustainable transformation to a market economy;
ii) reform of state institutions and citizen engagement; and
iii) investments in human capital, including the development of the health and education sectors.
As of April 1, 2019, the World Bank portfolio in Uzbekistan consisted of 20 projects, with net commitments totaling US$3.52 billion (including International Bank for Reconstruction and Development [IBRD], US$1.34 billion and International Development Assistance [IDA], US$2.18 billion) in water, agriculture, transport, energy, education, health, and urban development.
Today, the World Bank’s country program in Uzbekistan is among the three largest in the Europe and Central Asia region, along with Turkey and Kazakhstan.
The Bank’s investment portfolio in Uzbekistan is complemented by a comprehensive program of technical assistance delivered jointly with the International Finance Corporation (IFC).
The current program includes core diagnostics work, such as a Public Expenditure Review, a Public Expenditure and Financial Accountability assessment, and sector strategies for agriculture, education, transport, energy, and water; it also includes specialized tasks that are needed to support reforms in tax policy and administration, the banking sector, the trade and investment climate, poverty and vulnerability mapping, and citizen engagement.
In August 2018, the WBG signed its very first Reimbursable Advisory Services agreement with the Government to support the reform of the civil aviation sector in Uzbekistan.
Overall, the Bank’s technical assistance and analytical support have grown substantially since 2016 and bolster the Government’s efforts to implement a comprehensive program of reforms toward Uzbekistan’s transition to a market economy.
Currently, IFC manages a US$61 million investment portfolio, including projects in the financial and textile sectors. IFC’s advisory services have been implementing seven projects designed to assist the country in privatizing SOEs, transforming the cotton sector, developing and diversifying the financial market, promoting energy efficiency in the chemical sector, and piloting public-private partnership transactions in the renewable energy and health sectors.
The Multilateral Investment Guarantee Agency (MIGA) is actively exploring opportunities for utilizing political risk insurance guarantees for eligible cross-border investment projects in Uzbekistan. At present, MIGA has no outstanding exposure in the country.