Uzbekistan, Kazakhstan and USA to raise $1 billion for projects in Central Asia

Uzbekistan, Kazakhstan and the USA announced the launch of the Central Asian Investment Partnership. 

“Through this initiative, the U.S. International Development Finance Corporation (DFC), Astana International Financial Centre, acting in the interests of the Government of Kazakhstan, and the Ministry of Investments and Foreign Trade of Uzbekistan will make all possible efforts to raise at least $1 billion over five years to support projects that advance private-sector led growth and increase economic connectivity within Central Asia and the broader region,” the parties said in a joint statement.
 
The goal of the partnership is to promote private sector projects that meet international infrastructure quality standards and promote the growth of inclusive, transparent and sustainable investments. 

“The Central Asia Investment Partnership is an important step in advancing U.S. efforts to support economic growth and prosperity for Central Asia. Working through the C5+1 platform, the initiative will seek to take advantage of opportunities for increasing trade, development, and connectivity to make each country in Central Asia stronger and more prosperous. As the region seeks to recover from the economic effects 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, as well as exploring new opportunities to support the development of investment funds and the implementation of joint projects.