• KGS/USD = 0.01144 0%
  • KZT/USD = 0.00203 0%
  • TJS/USD = 0.10731 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00203 0%
  • TJS/USD = 0.10731 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00203 0%
  • TJS/USD = 0.10731 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00203 0%
  • TJS/USD = 0.10731 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00203 0%
  • TJS/USD = 0.10731 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00203 0%
  • TJS/USD = 0.10731 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00203 0%
  • TJS/USD = 0.10731 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00203 0%
  • TJS/USD = 0.10731 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28490 0%

Viewing results 1 - 6 of 6

Uzbekistan Launches $20 Million School Climate Resilience Project with Restituted Funds

Uzbekistan has launched a $20 million initiative to enhance climate resilience and improve water, sanitation, and hygiene (WASH) infrastructure in schools, marking the first major investment of restituted assets recovered from abroad. The project, titled “Modelling Climate Resilience and WASH in Schools,” officially begins on October 1. It is part of a broader commitment made in April by the Ishonch Fund Management Committee, which outlined how recovered assets from Switzerland would be used to fund education and community development initiatives. The commitment was reaffirmed during the Namangan Poverty Reduction Forum in September. Background: The Ishonch Fund The Ishonch Fund was established under a restitution agreement between Uzbekistan and Switzerland, in accordance with the UN Convention Against Corruption (UNCAC). In February, Uzbek Minister of Justice Akbar Tashkulov and Swiss Ambassador Konstantin Obolensky signed an agreement in Tashkent for the return of $182 million in confiscated assets linked to Gulnara Karimova, daughter of former president Islam Karimov. These funds, seized in Switzerland, are being transferred via the UN Uzbekistan Vision 2030 Multi-Partner Trust Fund. Project Scope and Impact The $20 million project targets 45 rural schools across Uzbekistan. Planned upgrades include access to clean water, modern sanitation, improved heating systems, and renewable energy technologies. Officials say these improvements will reduce energy consumption by 30% and cut greenhouse gas emissions by 50%. The initiative will directly benefit more than 31,500 students, particularly adolescent girls, who will have access to gender-sensitive facilities. Additionally, 2,700 teachers and administrators will be trained in climate resilience, WASH practices, and community engagement. International Support and Oversight Obolensky called the initiative a landmark achievement in the restitution process. “Switzerland is proud to see restitution resources being transformed into visible, corruption-resistant investments that directly benefit the Uzbek people,” he said. “With this project, we are ensuring that 31,500 children will learn in healthier, safer, and more dignified environments, a true symbol of restitution serving development.” At the Namangan forum, Obolensky emphasized that the school modernization project reflects Switzerland’s long-term commitment to ensuring that returned assets support public interests. Governance and Accountability Uzbekistan’s Deputy Minister of Economy and Finance, Ilkhom Norkulov, underscored the project’s alignment with the national reform agenda. “By investing in climate-resilient schools and introducing new governance tools, we are building both infrastructure and accountability for generations to come,” he said. UN Resident Coordinator Sabine Machl added, “By combining clean water, modern sanitation, and climate resilience with transparency and community oversight, we are not only investing in schools but also in trust, equity, and the future of every child.” To ensure transparency, the initiative will be tracked via My Better School, a digital platform that allows communities to monitor budgets, contractors, and timelines in real time. A pilot Integrity Pact will also be used to safeguard procurement processes. Officials say this model of restitution-financed development could guide future national school modernization efforts, while helping align Uzbekistan’s education system with international standards for climate adaptation and gender equality.

Swiss Ambassador: Returned Funds to Uzbekistan Support Schools and Social Projects

Switzerland's Ambassador to Uzbekistan Konstantin Obolenskiy has reaffirmed that Switzerland is repatriating assets obtained from criminal sources to Uzbekistan, with the funds being directed toward projects that reduce poverty and improve social infrastructure. Speaking to Dunyo at the III International Forum “From Poverty to Prosperity” in the Uzbek city of Namangan, Obolenskiy expressed admiration for Uzbekistan’s reported progress. “I had the privilege to attend the opening of the forum, and I was deeply impressed by the outcomes announced, how many people have been lifted out of poverty, how new economic and social assistance is being provided, the conditions being created so people can live a dignified life. This information is very important,” he said. The ambassador underscored Switzerland’s direct involvement in supporting Uzbekistan’s anti-poverty efforts. “We are returning to Uzbekistan funds taken from criminal sources, and these funds are being used for social projects that directly contribute to poverty reduction,” he stated. As an example, Obolenskiy pointed to a new initiative being signed at the forum. “Documents are being signed for a project to modernize over forty schools, improving sanitation and hygiene facilities such as toilets and showers, and enhancing the energy efficiency of buildings. All this is done in the interest of the people, for the country’s future.” He emphasized that the asset repatriation process reflects the shared will of both the Swiss and Uzbek governments. “The results achieved in reducing poverty are remarkable and these pleased not only me but all forum participants. In Uzbekistan, we believe every person has the right to fully realize their economic and social potential and live in dignity.” Swiss authorities have long been involved in legal proceedings related to Gulnara Karimova, the daughter of Uzbekistan’s late president. As previously reported by The Times of Central Asia, Switzerland has agreed to return approximately $182 million in confiscated assets linked to Karimova. These funds were seized during Swiss criminal investigations and will be transferred to Uzbekistan through the UN-managed Uzbekistan Vision 2030 Fund. A separate, earlier agreement between the two countries involved the return of around $131 million, also tied to Karimova, using the same trust fund mechanism.

From Mansions to Classrooms: Kazakhstan Turns Corruption Assets into Public Good

Kazakhstan is actively reclaiming assets obtained through corrupt practices and redirecting them toward social development. Confiscated properties, including luxury mansions, high-end vehicles, and even ancient jewelry, are being allocated for public benefit, particularly in education, healthcare, and infrastructure. These efforts form part of a broader anti-corruption campaign under President Kassym-Jomart Tokayev, which aims to transform stolen wealth into schools, hospitals, and public services while restoring public trust in government. Luxury Assets Reallocated for Public Use Over the past several years, billions of dollars in assets have been returned to the state budget. On September 5, officials announced that a luxurious mansion formerly owned by convicted ex-Prime Minister and ex-head of the National Security Committee Karim Massimov had been transferred to the Ministry of Education. Located in Astana, the property will be converted into a center for children with special needs. Initially slated for auction, the villa was withdrawn from sale and reassigned for social use. Massimov, who was sentenced in 2023 to 18 years in prison for high treason, attempted coup, and abuse of office, had amassed large amounts of property and luxury goods now being liquidated or redirected to state use. [caption id="attachment_35913" align="aligncenter" width="1303"] Image: National Security Committee of the Republic of Kazakhstan; a luxury mansion once owned by ex-Prime Minister Karim Massimov, complete with a disco bar, private theater, pool, and 30 rooms[/caption] This approach is not limited to Massimov’s holdings. In 2025, assets belonging to Perizat Kairat, the founder of a high-profile charity fund, were confiscated after she and her mother were convicted of embezzling donations meant for flood victims. The case shocked the country, as Kairat had been celebrated for her volunteer work before investigations revealed widespread fraud. She received a 10-year prison sentence while her mother was given seven years. Their seized property included a private house and apartments in Astana, along with luxury vehicles such as a Mercedes-Benz S450, Lexus LX 600, and Mercedes EQS 500. Authorities announced that these assets would be auctioned, with proceeds used to compensate victims defrauded by the foundation. [caption id="attachment_35911" align="aligncenter" width="649"] Image: Instagram; Perizat Kairat in Abu Dhabi[/caption] A Legal Framework for Asset Recovery A legal framework for asset recovery underpins these actions. In July 2023, Tokayev signed the Law “On the Return of Illegally Acquired Assets to the State,” targeting entities involved in large-scale corruption and oligopolistic practices. The law established an Asset Recovery Committee and a state management company to oversee confiscated property. It also created mechanisms to repatriate funds hidden abroad. Since its adoption, Kazakhstan’s Anti-Corruption Agency has recovered approximately 1.12 trillion KZT, ($2.1 billion) in assets and funds. These reclaimed resources are being reinvested in critical sectors. Examples of reallocated property illustrate the scale of the initiative. In Almaty, the Kaisar Tower business center, once privately owned, was transferred to the Kazakh National Women’s Pedagogical University. Another building in the city was handed over to the T. Zhurgenov Kazakh National Academy of Arts. In Astana, three mansions confiscated from corrupt officials are...

Money Seized from Corrupt Kazakh Officials to Fund Water Pipelines

In Kazakhstan's Akmola region, water supply systems will be built in the towns of Kosshy and Makinsk using funds seized from corrupt officials. The government of Kazakhstan reported that more than 1 billion KZT (approximately $2 million) from the Special State Fund has been allocated for this purpose. Water Supply for Kosshy and Makinsk A total of 476.7 million KZT (about $925,000) has been allocated to complete the construction of a water supply network in Kosshy. The project envisions full centralization of the town’s water supply. Currently, approximately 50 kilometers of pipeline have already been laid, with the total network planned to span 64.1 kilometers. The facility is expected to be operational by the end of this year. The town’s existing infrastructure is designed for 30,000 residents, while the official population has already surpassed 50,000. According to Kosshy’s General Development Plan, the number of residents could reach 150,000 by 2038. In Makinsk, the reconstruction of water supply networks is ongoing. The project includes laying 72.7 kilometers of new pipes. To date, 45 kilometers have been completed using previously allocated funds. A new allocation of 606.4 million KZT (around $1.2 million) will enable the full completion of the project, ensuring centralized water supply for the town’s more than 18,000 residents. Returned Assets Benefit Society Recovering illegally withdrawn assets has become a key priority of Kazakhstan’s Anti-Corruption Service. This work, based on the principle of “follow the money,” is a major component of the national anti-corruption strategy. Since 2022, over 1.12 trillion KZT ($2.1 billion) has been recovered for the state and quasi-state sector entities. Asset recovery efforts are conducted both domestically and internationally, using cooperation channels such as GlobE, CARIN, and ARIN. Schools, Medical Centers, and Water Pipelines: How Returned Funds Are Used The Special State Fund has already financed approximately 280 projects in education, healthcare, social protection, sports, and the modernization of engineering and water networks. Earlier this year, it was reported that 1.4 billion KZT (around $2.7 million) would be used to build water facilities in 11 villages in the Aktobe region.  Additionally, in April, 2.5 billion KZT (approximately $4.8 million) was allocated for the reconstruction of the main water pipeline in Turkestan region. These efforts are expected to significantly improve water supply for residents of several rural settlements. The Ministry of Education also announced that 28 new schools will be built using funds recovered from corrupt officials, providing education to 22,000 children.  The initiative to use recovered assets for the development of social infrastructure highlights the tangible benefits of anti-corruption efforts, with the projects in Kosshy and Makinsk standing as prime examples of how returned funds can directly improve the lives of citizens.