OPEC Fund to Allocate $500 Million for Tourism, Logistics Development in Uzbekistan

A delegation of the Organization of the Petroleum Exporting Countries (OPEC) International Development Fund headed by President Abdulhamid Alkhalifa participated in the events of the Tashkent International Investment Forum. The OPEC Fund and the Government of Uzbekistan signed agreements on joint activities and financial commitments worth $500 million. The funds will be used for the development of tourism, logistics, pharmaceuticals, ecology, support for women's entrepreneurship, and youth initiatives. The OPEC delegation will visit the facility of water supply and wastewater disposal in the Samarkand region, which was financed by the organization. This project provides the basic tools to improve health and living conditions for 70,000 local residents. For 25 years, the OPEC Fund has been working with Uzbekistan, providing it with $760 million in loans. This financial support has helped provide drinking water to remote areas and modernize Uzbekistan's energy sector. This year's Tashkent Investment Forum was attended by 2,500 delegates - government leaders, heads of major companies and representatives of the United Nations (UN), the European Bank for Reconstruction and Development (EBRD), the Organization of the Petroleum Exporting Countries (OPEC), and the Shanghai Cooperation Organization (SCO).