THE ACTIVITIES OF THE EUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMENT (EBRD) AND ITS IMPACT ON THE ECONOMY OF UZBEKISTAN

Sharifkhojayev Shavkat  Ochilovich; Kholmurodova  Shakhnoza

Authors

Sharifkhojayev Shavkat Ochilovich Scientific Supervisor, doctor of Economic Sciences, professor of University of World Economy and Diplomacy
Kholmurodova Shakhnoza Master’s student in the direction of International Economics and management of University of World Economy and Diplomacy

Keywords:

European Bank for Reconstruction and Development (EBRD), Uzbekistan, economic growth, foreign direct investment, financial sector

Abstract

This article examines the activities of the European Bank for Reconstruction and Development (EBRD) in Uzbekistan and analyzes its impact on the country's economy. It provides an overview of the EBRD's operations in Uzbekistan since the country joined the bank in 1992, including lending volumes, sectors funded, and technical assistance projects. The article assesses how EBRD financing has affected economic growth, foreign direct investment, financial sector development, infrastructure upgrades, private sector expansion, and sustainability reforms in Uzbekistan. Challenges and criticisms of the EBRD's activities are also discussed. The research finds that the EBRD has played an important role in supporting Uzbekistan's transition to a market economy, but more work remains to improve the business environment and reform state-owned enterprises in the country.