Republic of Uzbekistan participated in the annual meeting of the Board of Governors of the European Bank for Reconstruction and Development

The annual meeting of the Board of Governors of the European Bank for Reconstruction and Development (EBRD) took place on October 7-8 this year via video-conferencing. Managers and Deputy Managers from 71 shareholders of the Bank, including 69 countries, the European Union and the European Investment Bank, as well as the Bank's top officials and international experts attended.

This year Charles, Prince of Wales, Chancellor of the Exchequer, R. Sunak, Chairman of the EBRD Board of Governors, N. Calviño, and Acting President of the EBRD J. Rigterink delivered welcoming remarks at the opening ceremony this year.

The key agenda of the Annual Meeting was the election of the President of the EBRD. According to the results of the vote, Director General of the Treasury of the Ministry of Economy, Finance and Reconstruction of France, Odile Renaud-Basso, became the new President of the EBRD for the period 2021-2024.

For first time ever, the Governor from Uzbekistan - Deputy Prime Minister - Minister of Investment and Foreign Trade of the Republic of Uzbekistan S. Umurzakov was elected the EBRD's Deputy Chairman of the Board of Governors, i.e. the Bank's supreme governing body.

The meeting included a Round Table dedicated to the discussion of current trends in the global and regional economy, the impact of COVID-19 on the economies of the EBRD member countries, the Bank's activities to support member countries in overcoming the challenges posed by the pandemic, as well as the Strategy on Capital Investment and EBRD activities for 2021-2025.

The meeting resulted in a number of decisions that determine the Bank's future prospects, including a resolution on accepting the Republic of Iraq's application to join the Bank's shareholders.

For reference: the European Bank for Reconstruction and Development was established on March 28, 1991. Its headquarters are located in London. Uzbekistan has been a member of the EBRD since April 30, 1992. Currently, the Bank is involved in a number of projects in housing and communal services, energy, road facilities, irrigation and ecology areas totaling more than USD 1.0 billion.

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