The key facts

  • Talks with JBIC took place at the Embassy of Uzbekistan in Japan
  • The entry of Japanese banks MUFG, SMBC and Mizuho into Uzbekistan was discussed
  • Support for attracting Japanese companies to a special economic zone and infrastructure projects of Yangi Tashkent was considered

What was agreed with JBIC

Uzbekistan has proposed involving the Japanese bank JBIC in financing the new Yangi Tashkent airport. According to Kun.uz, citing the Dunyo news agency, the talks took place at the Embassy of Uzbekistan in Japan with Yoshi Higashida, director of JBIC's energy project finance department.

What was discussed

The parties considered opportunities for attracting Japanese investment into priority sectors of Uzbekistan's economy and expanding financial cooperation, as well as the outcomes of JBIC's recent visit to the republic. A separate topic was the entry of leading Japanese banks — MUFG, SMBC and Mizuho — into the Uzbek market. In addition, the use of JBIC support to attract Japanese industrial companies to a special economic zone planned for creation in Uzbekistan was discussed.

Yangi Tashkent's infrastructure

Particular attention at the meeting was given to the development of Yangi Tashkent's infrastructure: possible joint projects in electricity supply, centralized heating, drinking water and wastewater supply, urban transport, and utility networks were discussed. Following the talks, a preliminary agreement was reached to identify priority sectors and types of projects for the bank and to jointly develop specific projects that meet its financing requirements.

What is important to understand

For now, this is only a preliminary agreement at the level of talks: no specific projects or financing amounts for the airport have been named, and involving JBIC remains a proposal that requires further elaboration. The reports do not mention any commitments made or agreements signed.