In June 2021, IFC signed a Cooperation Agreement with the Ministry of Finance of the Republic of Uzbekistan to support the modernization of the chemical and fertilizer sectors in the country. Within the framework of this Cooperation Agreement, IFC will provide support to the government of Uzbekistan (GoU) on addressing the sectors’ inefficiencies by facilitating necessary institutional reforms and market transformations, which would reduce the state’s footprint and create a level playing field for private investors. The following areas of cooperation were agreed upon with the GoU and are included in the Project’s scope of work: 1. Support the GoU in the transformation of the Joint Stock Company “Uzkimyosanoat” (a state-owned holding company, managing the production of fertilizers and chemicals in Uzbekistan); 2. Support the GoU in the transformation of JSC “Uzagrokimyohimoya” (a state-owned agrochemicals distribution company) and in the implementation of market principles in the distribution and sales of agrochemicals; 3. Support a broader liberalization of the fertilizer sector and in creating a level playing field; 4. Enable long-term and uninterrupted access to inputs in the chemical and fertilizer sectors; 5. Improve investor protection and investment attractiveness in both sectors and in the country in general; 6. Assess the fertilizer market in Uzbekistan and in nearby countries with the aim to identify feasible investment opportunities in this sector; 7. Support the GoU in incorporating best practices in the privatization of two fertilizers plants: JSC “Ferganaazot” and of JSC “Dehkanabad Potash Plant”; 8. Support the GoU in the transformation of the Navoiyazot complex, one of the largest chemicals and fertilizer SOEs in the country, with the aim to attract private sector solutions and investments for modernizing and developing it. IFC will support the GoU in reforming and liberating its fertilizer and chemical sectors. IFC’s engagement is aimed at unlocking the opportunity for Uzbekistan to attract sizable private sector investments required to modernize, decarbonize, and develop sustainable chemical and fertilizer sectors benefiting people of Uzbekistan. IFC would apply holistic approach to these reforms