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IFC Works with Government to Introduce Regulatory Impact Assessment System in Uzbekistan


In Moscow:
Ilya Sverdlov
Phone: 7 (495) 411-7555
E-mail: isverdlov@ifc.org

In Tashkent:
Anvar Meliboev
Phone (998-71) 238-5928
E-mail: ameliboev@ifc.org


Tashkent, Uzbekistan, July 22, 2008—IFC, a member of the World Bank Group, has conducted the first international conference in Tashkent, Uzbekistan, on introducing a regulatory impact assessment system. This will enable an accurate assessment of the impact of regulatory changes in the country, helping create a regulatory environment that better serves private and public institutions.  

The event was conducted in collaboration with key Uzbek ministries and agencies. It was attended by international experts from Bulgaria, Mexico, Russia, and the United Kingdom, who delivered presentations on the importance of regulatory governance and shared their worldwide perspective and experiences. Representatives from partner organizations, government ministries, and regulatory agencies also participated.

“This conference has created a forum for all stakeholders to develop specific actions that will help introduce a regulatory impact assessment system in Uzbekistan,” said Vsevolod Payevskiy, Project Manager for the IFC Uzbekistan Business Enabling Environment Project.

A regulatory impact assessment system represents an advanced mechanism to develop, adopt, and control implementation of legislative documents. It enables state regulators to assess the effects of adopted legislation on the country’s socioeconomic environment. The goal is to create stable, transparent, and efficient legislation. The system was introduced in the early 1980s and is currently being implemented in more than 30 countries, such as the Republic of Korea, Latvia, Mexico, and the United States. It uses a variety of economic analyses, including cost benefit or cost-effectiveness methods, to examine government regulations.

A draft agreement between IFC and Uzbekistan to introduce the system is under consideration by the government. Some institutional and legislative elements of the system are already in use in the country.

About IFC
IFC, a member of the World Bank Group, fosters sustainable economic growth in developing countries by financing private sector investment, mobilizing private capital in local and international financial markets, and providing advisory and risk mitigation services to businesses and governments. IFC's vision is that people should have the opportunity to escape poverty and improve their lives. In FY07, IFC committed $8.2 billion and mobilized an additional $3.9 billion through syndications and structured finance for 299 investments in 69 developing countries. IFC also provided advisory services in 97 countries. For more information, visit www.ifc.org.