(MENAFN- Trend News Agency) Tashkent, Uzbekistan, August 2. Representatives of Uzbekistan held a meeting with the World Bank to discuss the development of the national startup ecosystem and the launch of a joint initiative to support innovative business projects, Trend reports.

The meeting was attended by Timur Khusanov, Director of the Department for Analysis, Support, and Coordination of State Policy for the Development of Small and Medium-Sized Businesses under the Ministry of Economy and Finance; Abdulazal Tashkhuzhaev, Investment Manager at the National Venture Fund "UzVC"; and Yerali Beksultan and Sergey Makarov, representatives of the World Bank.

During the convening, stakeholders engaged in a discourse regarding a novel project paradigm designed to bolster startup ecosystems and cultivate conducive environments for the advancement of innovative entrepreneurial ventures in Uzbekistan.

Particular attention was paid to the preliminary design and framework of the "Startup and Business Investments in Technology (SABIIT)" project. The project is intended to provide financial and institutional support for early-stage technology companies, stimulate private investment, and strengthen the overall innovation infrastructure in the country.

As a result of the discussions, an agreement was reached to proceed with the implementation of this new joint project in cooperation with the World Bank.

MENAFN02082025000187011040ID1109876037