Uzbekistan and KEXIM Discuss $3.6 Billion Project Portfolio
Uzbekistan and KEXIM reviewed their US$3.6 billion joint project portfolio and discussed future economic development cooperation during a meeting in Tashkent.
Uzbekistan and the Export-Import Bank of Korea (KEXIM) have engaged in discussions regarding a substantial project portfolio valued at $3.6 billion. The meeting in Tashkent involved Uzbekistan's Deputy Minister of Investment, Industry and Trade, Shohrukh Gulamov, and KEXIM representatives, focusing on the present state and future outlook of their collaboration through the Economic Development Cooperation Fund (EDCF), as well as the execution of ongoing joint ventures.
It was highlighted during the meeting that KEXIM's involvement in Uzbekistan encompasses 27 projects. Nine of these, totaling $366.6 million, have been successfully completed. Currently, ten projects, with a combined value of $1.08 billion, are in progress, while an additional eight projects, estimated at $2.19 billion, are in the development phase.
Both sides affirmed that the planning and execution of EDCF-backed projects adhere to the established intergovernmental frameworks and the stipulated procedures of both the Republic of Uzbekistan and the Republic of Korea.
Particular emphasis was placed on the procurement processes, with assurances that the selection of consultants, contractors, and suppliers is conducted with a commitment to transparency, impartiality, and open competitive bidding.
The meeting concluded with a mutual agreement to sustain the exchange of information and practical collaboration concerning the implementation of these joint projects.