President of Uzbekistan Expands Partnership with AIIB during Landmark Visit

• Three-year investment program signed.
• Memorandum on Uzbekistan hosting AIIB's 9th Annual Meeting signed.

BEIJING, Jan. 24, 2024 /PRNewswire/ -- H.E. Shavkat Mirziyoyev, President of the Republic of Uzbekistan met with Asian Infrastructure Investment Bank (AIIB) President Jin Liqun at AIIB's Headquarters in Beijing on January 24. The two leaders held bilateral meetings and agreed on enhancing further cooperation and partnerships.

During the meeting, President Mirziyoyev praised AIIB for achieving rapid growth since its operations and for playing an important role in the multilateral development community. He recognized AIIB's sound governance and high international standards.

President Jin said that, "as a founding member, Uzbekistan has actively contributed to AIIB's development since its inception." He reaffirmed AIIB's strategic commitment to continue supporting Uzbekistan's sustainable growth.

The two leaders lauded the elevated level of engagement achieved in recent years. They reviewed the current infrastructure investment landscape and discussed opportunities to further expand cooperation. As a result, a three-year investment program was agreed on and signed, with the goal of further supporting Uzbekistan's development in multiple sectors across the country. To date, the Bank has approved 14 projects in Uzbekistan amounting to USD3.1 billion, making it the 7^th largest portfolio by member.

In 2023, AIIB announced that it would hold its 2024 Annual Meeting in Samarkand, Uzbekistan, on Sep. 25-26, marking the first time AIIB would hold its flagship event in Central Asia. During the delegation's visit to AIIB, the memorandum for hosting the 2024 Annual Meeting was officially signed between AIIB and the Uzbekistan government.

About AIIB

The Asian Infrastructure Investment Bank (AIIB)^[1] is a multilateral development bank whose mission is financing the Infrastructure for Tomorrow—infrastructure with sustainability at its core. We began operations in Beijing in January 2016 and have since grown to 109 approved members worldwide. We are capitalized at USD100 billion and Triple-A-rated by the major international credit rating agencies. Collaborating with partners, AIIB meets clients' needs by unlocking new capital and investing in infrastructure that is green, technology-enabled and promotes regional connectivity.

References

1. ^{^} Asian Infrastructure Investment Bank (AIIB) (www.aiib.org)