Tashkent, Uzbekistan (UzDaily.com) — The Central Bank of Uzbekistan held a meeting with a delegation from the European Bank for Reconstruction and Development (EBRD) led by the Managing Director for Financial Institutions, Francis Malige.

The main topics of discussion were the current EBRD projects in Uzbekistan and the next steps in developing the financial sector.

The parties discussed a wide range of issues, including:

- Support for Small and Medium-sized Businesses: Special attention was given to expanding access to financial resources for all categories of entrepreneurs, including family farms, women, and youth.

- Transformation of the Banking System: Measures to improve corporate governance in commercial banks and implement a risk-oriented approach to management were discussed.

- Privatization of State-Owned Commercial Banks: The parties reviewed the progress of privatization processes and the next steps in reforming state-owned banks.

- Reduction of the Shadow Economy: The Central Bank and EBRD emphasized the importance of joint efforts from all stakeholders to combat the shadow economy.

The EBRD provided information on measures to accelerate the transformation of state-owned banks. The meeting confirmed both sides’ commitment to further cooperation aimed at developing Uzbekistan’s financial sector, enhancing its resilience, and improving the accessibility of financial services for both the population and businesses.