Strengthening Partnership for Sustainable Development with the OPEC International Development Fund

As part of the strategic partnership between Uzbekistan and the OPEC International Development Fund, a meeting was held on May 2 this year between the Deputy Prime Minister - Minister of Economy and Finance, Jamshid Kuchkarov, and the President of the OPEC International Development Fund, Abdulhamid Al-Khalifa.

The main topics of the meeting focused on long-term cooperation, with particular attention given to involving the private sector in the privatization process of state banks. Discussions also covered the support for the development of mortgage financing, including measures to improve the accessibility of mortgage loans for the population and attracting investments through the Uzbekistan Mortgage Refinancing Company.

During the meeting, an agreement was signed for $20 million USD to implement the project "Development of a Network of Private Preschool Educational Institutions Based on Public-Private Partnership" in Uzbekistan. This project is part of the efforts to achieve the goals set in the Development Strategy of New Uzbekistan for 2022 — 2026, approved by the President of the Republic of Uzbekistan. The project also provides opportunities for the private sector to use preferential loans for the construction of preschool institutions.

The project will allow the construction and modernization of a number of new preschool institutions, while significantly increasing the number of places for children in preschool institutions.

This agreement not only promotes the development of preschool education in Uzbekistan but also marks an important step in deepening international cooperation and supporting socially significant projects in the country.

At the conclusion of the meeting, the parties agreed to deepen cooperation in various directions.

Information Service

Ministry of Economy and Finance