OPEC Fund President visits Uzbekistan to expand cooperation and sign country partnership framework

April 30, 2024: The OPEC Fund for International Development (the OPEC Fund) is expanding its presence in Uzbekistan with the signing of a country partnership framework and new financial commitments. A delegation led by OPEC Fund President Abdulhamid Alkhalifa is visiting Uzbekistan from May 1-5 to deepen the relationship. 

During the visit the OPEC Fund President will meet Uzbek President Shavkat Mirziyoyev and hold bilateral meetings with Deputy Prime Minister and Minister of Economy and Finance, Jamshid Kuchkarov, and Minister of Investment, Industry and Trade, Laziz Kudratov, as well as business representatives and officials.

President Alkhalifa will also participate in the Tashkent International Investment Forum to speak at the plenary session and join the roundtable event “Navigating Global Economic Shifts: Strategies for Resilience and Growth.” During the Forum, the OPEC Fund and Uzbekistan will sign a country partnership framework, outlining planned commitments for the next five years. The partners will also sign a new loan agreement for an education project. 

On the final day of the official visit, the OPEC Fund delegation is expected to visit an OPEC Fund water supply and sanitation project site in Koshrabad district in Samarqand region. The US$37 million project will improve health and living conditions of approximately 70,000 people through the construction and upgrading of the local water supply infrastructure.

Uzbekistan and the OPEC Fund have cooperated for 25 years to drive sustainable development in the country. To date, the OPEC Fund has provided around US$760 million in loans to support nearly 30 public and private sector projects. Around 30 percent of OPEC Fund’s sovereign funding has been dedicated to improving water and sanitation, whereas the private sector engagements have focused on the transformation of Uzbekistan’s energy sector and renewable energy.   

About the OPEC Fund 

The OPEC Fund for International Development (the OPEC Fund) is the only globally mandated development institution that provides financing from member countries to non-member countries exclusively. The organization works in cooperation with developing country partners and the international development community to stimulate economic growth and social progress in low- and middle-income countries around the world. The OPEC Fund was established in 1976 with a distinct purpose: to drive development, strengthen communities and empower people. Our work is people-centered, focusing on financing projects that meet essential needs, such as food, energy, infrastructure, employment (particularly relating to MSMEs), clean water and sanitation, healthcare and education. To date, the OPEC Fund has committed about US$27 billion to development projects in over 125 countries with an estimated total project cost of more than US$200 billion. The OPEC Fund is rated AA+/Outlook Stable by Fitch and AA+, Outlook Stable by S&P. Our vision is a world where sustainable development is a reality for all.