Uzbek reconstruction and development fund’s authorized capital to grow by 2018
Tashkent, Uzbekistan, May 22
By Demir Azizov - Trend:
Uzbekistan will increase the authorized capital of the Fund for Reconstruction and Development (FRDU) in 2014-2018 by 1.7 times (up to $25 billion), according to Botir Hodjayev, First Deputy Economy Minister of Uzbekistan.
Hodjayev made the remarks on May 20 speaking at the 7th Tashkent International Investment Financial Forum.
"President of Uzbekistan, Islam Karimov signed a decree to increase the capital of the FRDU in 2014-2018 up to $25 billion," he said.
Hodjayev went on to add that FRDU's capital will be increased in accordance with the president's decree, in order to further expand the fund's participation in strategically significant investment projects that are aimed at modernizing, technical and technological update of the economy's leading sectors, and providing further balanced and sustainable social and economic development of the country.
FRDU is currently taking part in 86 investment projects worth $29 billion, the deputy minister said adding that the fund's loans worth $78 million were drawn in 2013 during the implementation of 33 projects.
Edited by S.I.