On 13th of July, 2018 in the Ministry of Finance, Deputy Prime Minister – Minister of Finance Jamshid Kuchkarov held a meeting with the Vice-President of the World Bank for Europe and Central Asia – Mr.Cyril Muller.
At the beginning of the meeting, parties signed an agreement between the Government of the Republic of Uzbekistan and the World Bank on the allocation of loan to support ongoing reforms in the amount of $ 500 mln.
During the meeting, S.Müller noted that the Government has began a long-term and multilateral reforms affecting virtually all spheres of the economy, in particular, notable results have been achieved in agriculture and tax sphere, namely, the adoption of Concept of tax reforms, as well as the measures taken within the framework of accession Uzbekistan to the WTO, etc.
A senior World Bank official expressed satisfaction with the fact that due to the invitation of the country’s leadership, the experts of the World Bank took a part in the activities of the ongoing reforms.
In the course of the meeting, the parties discussed further ways of mutually beneficial cooperation. In particular, the parties discussed the possibility of participation of experts from the World Bank and other organizations in the drafting of the Tax Code of the Republic of Uzbekistan in new edition in reflection of the main directions of the Concept of tax reforms of the Republic of Uzbekistan.
Thus, two independent missions of the World Bank are planned for the provision of technical assistance in development of the Tax Code and in specification of the main areas of pension reform.
At the end of the meeting, representatives of the World Bank proposed to continue reforms aimed at increasing the efficiency and ensuring profitability of state-owned enterprises, as well as ensuring the sustainability of state-owned commercial banks.
