Uzbekistan and the Saudi Fund for Development discussed further expansion of investment cooperation. A meeting between the Minister of Investments, Industry and Trade Laziz Kudratov and the Director General of the Fund Sultan Al-Marshad took place on January 23 and was dedicated to the current state of the partnership and its prospects.
During the negotiations, it was noted that over the years of interaction, the Saudi Fund for Development has financed projects in the fields of healthcare, education, water supply and irrigation, housing construction and transport infrastructure. The total cooperation portfolio to date includes 11 projects worth $287.4 million, which makes the Fund one of the most prominent institutional investors in the socio-economic development of the country.
In addition to the initiatives already being implemented, the parties are considering launching two priority projects with a total cost of $138 million. We are talking about the construction of affordable housing in the Republic of Karakalpakstan and the reconstruction and repair of damaged bridges on highways. Following the meeting, readiness was confirmed to deepen the partnership and expand investments in areas that are a priority for Uzbekistan.
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