OPIC negotiates financing of projects in Uzbekistan

TASHKENT (TCA) — Uzbekistan’s delegation held negotiations with the Acting President and Chief Executive Officer of Overseas Private Investment Corporation David Bohigian, in Washington, the Jahon information agency reported on July 22.

The Overseas Private Investment Corporation (OPIC) is a self-sustaining U.S. Government agency that helps American businesses invest in emerging markets. Established in 1971, OPIC provides businesses with the tools to manage the risks associated with foreign direct investment, fosters economic development in emerging market countries, and advances U.S. foreign policy and national security priorities. OPIC helps American businesses gain footholds in new markets, catalyzes new revenues and contributes to jobs and growth opportunities both at home and abroad.

According to the Embassy of Uzbekistan in the US, since 1993, 10 projects worth 231 million USD have been implemented in Uzbekistan in telecommunications, geology, tourism and education with involvement of financial resources and insurance of the OPIC.

David Bohigian highly appreciated the large-scale reforms carried out in Uzbekistan aimed at ensuring sustainable development of the country, liberalization of the economy and improvement of the business climate, support for investors and business initiatives.

The parties agreed to establish direct working contacts to ensure financing of projects in energy, tourism, construction of affordable housing, as well as provision of insurance guarantees and credit lines for commercial banks of Uzbekistan.

The American side also expressed its readiness to attend an Uzbekistan–American business forum scheduled for October in Washington, together with the American–Uzbekistan Chamber of Commerce.

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