IFC strengthens co-op with Uzbekistan

By Azernews

By Abdul Kerimkhanov

International Finance Corporation (IFC), a member of the World Bank Group, works with politicians to help implement Uzbekistan’s ambitious development program, increasing government exposure to various infrastructure procurement methods, including public-private partnerships (PPPs).

IFC, together with the PPP Agency of the Ministry of Finance, is launching a series of capacity building activities, including certified PPP training (CP3P) and an exam for government officials from the PPP Agency and line ministries. The introductory two-day training gathers about 30 participants to enhance their knowledge of PPPs to help the government manage and implement a critical infrastructure project that uses the experience and investment of the private sector.

The CP3P certification program is an innovation of the Asian Development Bank (ADB), the European Bank for Reconstruction and Development (EBRD), the Inter-American Development Bank (IDB), the Islamic Development Bank (IsDB), the Multilateral Investment Fund (MIF) and the World Bank Group (WBG). This allows professionals in infrastructure segments around the world to have a common language for structuring and managing PPP projects.

It is expected that the second training will take place in February 2019, after which the exam will be held, recognized throughout the world. In addition, the IFC will organize industry-specific trainings on PPP in aviation, health care and energy in January 2019.

“Uzbekistan is working to build support for broader private sector participation in the development of the country through sustainable PPP models as part of our overall growth structure. We are pleased to work with the IFC to acquaint our government officials with PPPs and international best practices in this area,” said Borikhon Ganikhodzhayev, deputy head of the PPP Agency.

Zafar Khashimov, a country representative of the IFC in Uzbekistan, said that this initiative is part of the IFC’s support for the government’s ongoing reforms aimed at increasing the role of the private sector in the economy. He added that country brings global PPP expertise to help identify, structure, and offer PPP projects on a transparent and competitive basis that support government priorities in a number of infrastructure and social sectors.

As a transaction advisor, IFC is helping the government of Uzbekistan to structure PPPs to mobilize private sector expertise and capital to finance, build and operate a 100 MW solar power plant. IFC also advises on PPP issues to attract private investors to finance, equip, maintain and operate several hemodialysis centers throughout the country.

IFC is a sister organization of the World Bank and member of the World Bank Group. It is the largest global development institution focused exclusively on the private sector in developing countries. The Bank Group has set two goals for the world to achieve by 2030: end extreme poverty and promote shared prosperity in every country.

IFC leverage its products and services, as well as products and services of other institutions across the World Bank Group, to create markets that address the biggest development challenges of time. IFC apply financial resources, technical expertise, global experience, and innovative thinking to help its clients and partners overcome financial, operational, and other challenges.

IFC is also a leading mobilizer of third-party resources for projects. Their willingness to engage in difficult environments and leadership in crowding-in private finance enable IFC to extend its footprint and have a development impact well beyond direct resources.