World Bank held a seminar on Results-Based Financing

The World Bank specialists organized a 2-day seminar on the topic “Uzbekistan Program for Results (PforRs)” for the staff of the Ministry of Economy and Finance’s Rural Infrastructure Development Project.

The event was attended by Christopher Finch, Senior Social Development Specialist at the World Bank, Simon Sottsas, Task Team Leader, other specialists from the Bank, and the employees of the Rural Infrastructure Development Project.

During the meeting, participants discussed the World Bank’s international experience in financing government programs effectively and implementing the Program-for-Results (PforR) approach. The results-based financing program represents a new direction for Uzbekistan. Its key difference from other investment programs and loans lies in allocating funds based on the achievement of specific results.

The importance of the “PforR” mechanism is that this approach contributes to increasing efficiency and transparency in financing government programs. Since the program is results-oriented, it ensures the targeted and effective use of public expenditures.
Seminar participants discussed the legal and practical aspects of this mechanism. They also reviewed a presentation on the projects being implemented with the participation of the World Bank, aimed at adapting this approach to Uzbekistan’s context.