US, Uzbekistan, Kazakhstan to support projects for expanding economic ties in Central Asia
BAKU, Azerbaijan, Jan. 7
By Klavdiya Romakayeva - Trend:
The US, Uzbekistan and Kazakhstan agreed to attract at least $1 billion over five years to support projects that foster private sector growth and expand economic ties in Central Asia and the region as a whole, Trend reports citing the Ministry of Investments and Foreign Trade of Uzbekistan.
The governments of the US, Uzbekistan and Kazakhstan made a joint statement on the launch of the Central Asia Investment Partnership Initiative.
Through this initiative, the US International Development Finance Corporation (DFC), the Ministry of Investment and Foreign Trade of Uzbekistan and the Astana International Financial Center, acting in the interests of the government of Kazakhstan, will make every effort to attract at least $1 billion over five years for supporting projects that contribute to the growth of the private sector and the expansion of economic ties in Central Asia and the region as a whole.
According to the statement, the goal of the Central Asian Investment Partnership will be to promote private sector projects that meet international infrastructure quality standards and promote the growth of inclusive, transparent and sustainable investments.
Thus, the partners will contribute to the successful implementation of projects and mobilize the attraction of additional private investment in the region.
In addition, this initiative, operating through the C5 + 1 platform, will seek to use all available opportunities to increase trade, stimulate integrated development and deepen multilateral ties, with the goal of strengthening and growing the economies of Central Asian countries.
“As the region strives to cope with the economic impact of the COVID-19 pandemic, such cooperation and resilience is more important than ever,” the statement says.
In addition to supporting regional projects, DFC will continue to deepen partnerships in Central Asia by signing bilateral Memorandums of Understanding with the Ministry of Investment and Foreign Trade Uzbekistan and the Astana International Financial Center, acting in the interests of the government of Kazakhstan, as well as exploring new opportunities to support development of investment funds and implementation of joint projects.
Follow the author on Twitter: @romakayeva