In Seoul, Deputy Prime Minister - Minister of Investments and Foreign Trade of the Republic of Uzbekistan S.Umurzakov held negotiations with President of Korea Eximbank Bang Moon-kyu.

The active nature of cooperation and the positive dynamics of growth in the number of projects co-financed by the Economic Development and Cooperation Fund of the Republic of Korea EDCF were noted. Thus, in 2014-2017 4 projects worth about $180 million were implemented jointly with Eximbank, and in the period from 2018 to 2020 7 projects worth $ 660 million were already completed. Priority areas of cooperation are healthcare, education and infrastructure development.

The mechanisms of interaction that allow to accelerate the processes of preparation, study and approval of projects under development in order to accelerate the development of mutually beneficial partnerships were considered.

The Uzbek side expressed gratitude for the decision to increase the amount of concessional financing under the EDCF to $1 billion for funding new investment projects in Uzbekistan. The cooperation program for 2021-2023 will include 13 projects with a total value of $ 1.2 billion. The parties agreed to establish close cooperation on the accelerated promotion and practical implementation of these projects.

Further steps were also outlined to deepen cooperation with the newly established Economic Development Promotion Facility EDPF to jointly implement new projects in the fields of electrical engineering, biopharmaceuticals, metallurgy and the chemical industry.

At the end of the meeting, the parties expressed their commitment to continue systematic work to further develop the partnership in the identified areas. Loan agreements were also signed on the project “Providing medical facilities of the Republic of Uzbekistan with medical equipment” in the amount of $ 88.8 million and on the project “Construction of an oncological clinic” in the amount of $ 150 million.