The International Development Fund of OPEC (Organization of the Petroleum Exporting Countries) and Uzbekistan have signed a framework agreement on partnership for the years 2024-2029, within which $500 million will be allocated to support the country's sustainable development program. This was announced by the fund's press service.
The OPEC Fund will also provide a $20 million credit for a government project in the field of preschool education, which includes the establishment of 200 preschool institutions for nearly 30,000 children across Uzbekistan. The project is co-financed by the Islamic Development Bank and private sponsors.
"The development of a modern preschool education system is crucial for the future economic growth and the enhancement of human potential. We are proud to join the government's efforts and support its ambitious aspirations to become an above-average income country by 2030," noted the fund's president, Abdulhamid Al-Khalifa.
As of today, the OPEC Fund has provided credits totaling around $760 million to support nearly 30 projects in Uzbekistan, both in the public and private sectors. Approximately one-third of the financing has been allocated to improve water supply and sanitation.
On May 1st, Uzbekistan's President Shavkat Mirziyoyev met with President Al-Khalifa. During the meeting, the parties emphasized the "importance of the swift preparation and implementation" of projects under the signed $500 million agreement.
