American OPIC resumes financing projects in Uzbekistan

The American Overseas Private Investment Corporation (OPIC) resumes funding projects in Uzbekistan.

This was announced following the negotiations of the “Hosiyatli Bog Plus farm” delegation from the Jizzakh region with OPIC representatives.

The purpose of the negotiations in Washington was to discuss the prospects for cooperation in the creation of an intensive garden and a modern greenhouse in the Bakhmal district of the Jizzakh region.

“The project, worth $21 million, provides for planting apple, almond, sweet cherry seedlings on 180 hectares of land, as well as construction of modern greenhouses, installation of cold rooms and drying equipment from world leading manufacturers,” the press service of the Foreign Ministry said.

The established production facilities will allow for the cultivation of agricultural products, their processing and export, mainly to the neighboring countries of Uzbekistan, as well as Russia. It is planned to create up to 150 jobs, half of which will be occupied by women.

The launch of the project is scheduled for March 2019, production will reach full capacity by 2021. This will be the first project financed by OPIC after the signing of a memorandum of cooperation between the State Investment Committee of Uzbekistan and the Overseas Private Investment Corporation within the framework of the official visit of President Shavkat Mirziyoyev to the USA in May 2018.

Currently, together with OPIC, a number of other investment projects are being worked out in the field of hotel business, the development of private medical services, and agriculture.

Established in 1971, the American corporation is implementing programs to support private investment in developing countries. The assets of the corporation are $30 billion.