Abu Dhabi Development Fund to finance tourism sector in Uzbek region
Baku, Azerbaijan, Oct. 3
By Fikret Dolukhanov – Trend:
The National Bank of Uzbekistan (NBU) and the Abu Dhabi Development Fund will jointly implement a project to build an international hotel and a tourist shopping and entertainment center in Samarkand, which will increase the tourist potential of the city, the press service of the NBU said.
The agreement on cooperation between the two parties worth $100 million was signed on October 3 in Tashkent within the framework of the Uzbek-Emirates business forum.
The document also provides for funding of projects in such areas as electricity, water, health, agriculture, transport and other industries.
The direct investments of the Abu Dhabi Fund are attracted to finance projects under the “Program of measures for the accelerated development of the tourist potential of the city of Samarkand and the Samarkand region for 2017-2019”, adopted on the initiative of Shavkat Mirziyoyev.
The Abu Dhabi Development Fund is an organization founded in 1971 by the Abu Dhabi Government (UAE) to help developing countries by providing them with loans to finance development projects, as well as investing in projects in these countries. By the beginning of 2018, the Fund has financed 536 projects in 88 countries.
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