Fitch said the decision was based on majority state ownership, significant systemic importance, and a record of capital and liquidity support.

Uzbekistan and Afghanistan are expected to sign an agreement on preferential trade to increase trading volumes between the two countries.

Uzbekistan, a double-landlocked country with almost 35 million people, has been actively promoting the South and Central Asia rail link that will go through its war-torn neighbour Afghanistan, giving it access to the ports of Karachi, Gwadar and Qasim.

President Mirziyoyev issued a decree in October 2020 ordering the full or partial privatisation of over 620 state-owned companies and properties.

The implementation of these projects will help Uzbekistan achieve its goals of increasing the volume of electricity generated by solar energy to 5 gigawatts in the coming years.