Uzbekistan to invest in fund created by US, Israel, UAE to foster regional co-op

Finance Materials 11 January 2021 13:13 (UTC +04:00)
Uzbekistan to invest in fund created by US, Israel, UAE to foster regional co-op

BAKU, Azerbaijan, Jan. 11

By Klavdiya Romakayeva - Trend:

The US International Development Finance Corporation (DFC) announced financial support from Uzbekistan to the Abraham (Ibrahim) Fund in the amount of up to $50 million, Trend reports referring to the US embassy in Uzbekistan.

The US, Israel, and the United Arab Emirates announced the creation of the fund on October 20, 2020. The three countries are mobilizing over $3 billion through this fund in investment and private sector-led development initiatives to foster regional economic cooperation.

According to the embassy’s announcement, Uzbekistan's financial support of up to $50 million is a testament to its support for the Abraham agreements and the fact that improving economic cooperation and interconnections is a shared goal that will also bring prosperity to Uzbekistan.

“We are proud of our growing partnership with Uzbekistan and see its support for the Abraham Foundation as a significant step towards expanding our common goals,” CEO of DFC Adam Boehler said.

In turn, the Deputy Prime Minister / Minister of Investment and foreign trade of the Republic of Uzbekistan Sardor Umurzakov said expressed his hope that the support of Uzbekistan in the Ibrahim Foundation will be an excellent example of commitment to regional cooperation and will play an important role in reducing poverty, increasing labor productivity, employment and economic growth in the region.

US International Development Finance Corporation (DFC) is America’s development bank. DFC partners with the private sector to finance solutions to the most critical challenges facing the developing world today. The corporation invests across sectors including energy, healthcare, critical infrastructure, and technology. DFC also provides financing for small businesses and women entrepreneurs in order to create jobs in emerging markets. DFC's investments adhere to high standards and respect the environment, human rights, and worker rights.


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