Uzbekistan and BlackRock to launch joint investment fund

Uzbekistan and U.S. investment company BlackRock have agreed to create a joint fund, with the concept of the platform to be finalized in the near future and the practical implementation of projects to begin soon.

Photo: Presidential Press Service

As part of his working visit to New York, President Shavkat Mirziyoyev met with BlackRock board member and senior managing director Adebayo Ogunlesi.

Talks focused on expanding strategic cooperation with the leading U.S. company, particularly in the development of Uzbekistan’s energy, transport, and water infrastructure. Both sides expressed support for the creation of a joint fund.

The presidential press service did not specify the list of joint projects. The Uzbek delegation at the talks included Minister of Investments, Industry and Trade Laziz Kudratov, Foreign Minister Bakhtiyor Saidov, and Minister of Energy Jurabek Mirzamakhmudov.

This is not the first time discussions have been held with BlackRock. In June, President Mirziyoyev received Hamad bin Jassim Al Thani, chairman of Al Mirqab Capital, along with BlackRock’s Adebayo Ogunlesi. Following that meeting, an agreement was reached to adopt a roadmap for systematically advancing promising projects.

Minister Kudratov said that Uzbekistan had presented Al Mirqab Capital and BlackRock with a portfolio of eight major investment projects covering transport, energy, infrastructure, and tourism. A joint working group was set up as a result of those talks to develop feasibility studies and implementation terms within a month.

Prepared by: Дониёр Тухсинов

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