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Uzbekistan|politics|January 12, 2021 / 10:38 AM
Uzbekistan commits $50 million to Abraham (Ibrahim) Fund launched by U.S., Israel and UAE

AKIPRESS.COM - U.S. International Development Finance Corporation and Uzbekistan announced about expansion of their partnership through Uzbekistan’s support for the Abraham (Ibrahim) Fund.

The United States, Israel, and the United Arab Emirates launched the Fund on October 20, 2020. In doing so, the three countries are seeking to support more than $3 billion to promote private sector-led investment and development initiatives that promote regional economic cooperation. The Fund fulfills a promise made in the Abraham (Ibrahim) Accords and demonstrates the benefits of peace through tangible projects that improve the lives of the region’s people, the U.S. Embassy said.

Uzbekistan’s commitment of up to $50 million is a testament to the Abraham (Ibrahim) Accords and the fact that improved economic cooperation and connectivity is an objective shared by many, and one that will also bring prosperity to Uzbekistan.

“We are proud of our growing partnership with Uzbekistan and see their support for the Abraham (Ibrahim) Fund as an exciting step towards expanding our shared objectives,” said Adam Boehler, CEO of DFC. “We look forward to continued progress on the Abraham (Ibrahim) Fund and welcome participation from other countries across the region.”

“We hope that Uzbekistan’s support in the Abraham (Ibrahim) Fund will become an excellent example of our countries’ commitment to the development of regional cooperation and play an important role in reducing poverty, increasing productivity, ensuring employment and economic growth in the region,” said Sardor Umurzakov, Deputy Prime Minister – Minister of Investments and Foreign Trade of the Republic of Uzbekistan.

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