TASHKENT, Feb. 7 (Xinhua) -- Uzbekistan will hold its first Council of Foreign Investors meeting jointly with the European Bank for Reconstruction and Development (EBRD) in the first half of this year, the Uzbek Ministry of Investments and Foreign Trade said Thursday.

Preparation for the event was discussed during the meeting with Bruno Balvanera, EBRD managing director for Central Asia, the ministry said.

The Council of Foreign Investors is being set up jointly with the EBRD and will be chaired by Uzbekistan President Shavkat Mirziyoyev.

The council's activities "will be aimed at making specific recommendations for the government on improving the investment climate, providing a favorable, non-discriminatory, transparent business climate to attract foreign investments," the ministry said.

The council will consist of representatives of the Uzbek government, the EBRD, and other international financial institutions and development banks.

EBRD President Suma Chakrabarti will visit Uzbekistan to take part in the council's first meeting, according to the ministry.

The EBRD has so far provided 622.5 million U.S. dollars of loans for seven projects aimed at improving the water supply and district heating systems in the capital Tashkent and other regions of the country, as well as modernizing the electric power industry.