OPEC Fund supports Uzbekistan's new kindergarten initiative with $20M

During the Tashkent International Investment Forum, the Minister of Economy and Finance Jamshid Kuchkarov met with the head of the fund, Abdulhamid Alkhalifa, on May 2. The parties discussed the prospects for long-term cooperation and the development of strategic partnerships.

One of the primary topics of the conversation was the involvement of the private sector in the privatization of state banks. Support by the fund for affordable mortgage lending and attracting investments in the Mortgage Refinancing Company was also discussed.

Additionally, Kuchkarov and Alkhalifa signed an agreement on the implementation of a project to create private preschool educational establishments based on PPP (Public-Private Partnership). The OPEC Fund will provide $20 million for these purposes.

The initiative to construct new and modernize existing kindergartens is part of the "Strategy for the Development of New Uzbekistan" until 2026. It plans to provide businesses with preferential loans for the construction of institutions to increase the number of places for children.