IFC Cotton Sector and Fertilizer Projects in Uzbekistan Receive Funding from the Japanese Government

Media Advisory 



IFC Cotton Sector and Fertilizer Projects in Uzbekistan Receive Funding
from the Japanese Government


 

Tashkent, Uzbekistan, November 2, 2021— The Government of Japan is partnering with IFC to help modernize the country’s cotton and fertilizer industries and support economic growth.

Almost $2 million from the Comprehensive Japan Trust Fund will help IFC deliver two modernization initiatives. One project aims to improve cotton farming and labor practices in Uzbekistan’s cotton sector by developing and introducing a sustainable cotton standard system with market and demand-driven incentives.

The Government of Japan is also supporting IFC to work with the Government of Uzbekistan to create a level playing field in the fertilizers sector and to foster the enabling environment needed to attract international companies to invest in a sustainable chemical industry.

“The Government of Japan expects these two projects will help reform these historically significant industries with international standards and valuable input from IFC. We hope the projects can attract more foreign investment and trade into these sectors, including those from Japanese companies,” said H. E. Mr. Yoshinori Fujiyama, Japan’s Ambassador to Uzbekistan.

IFC’s Regional Manager for Central Asia, Cassandra Colbert, said, “Uzbekistan’s cotton and fertilizers sectors are critically important to the country’s economic growth. Thanks to financial support from the government of Japan, IFC’s projects will continue to help modernize these sectors, strengthening them so that they can support the country’s growth and develop its export potential.”

About the Comprehensive Japan Trust Fund

The Comprehensive Japan Trust Fund, established in 1995, supports IFC Upstream and Advisory activities in areas that Japan and IFC deem strategically important and that are expected to have a strong and wide-ranging development impact.

About IFC
IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2021, IFC committed a record $31.5 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of the COVID-19 pandemic. For more information, visit www.ifc.org.