TASHKENT, Uzbekistan, September 8. The volume of International Finance Corporation (IFC) investments in Uzbekistan has reached its maximum in 30 years, Trend reports.
IFC allocated more than $1.6 billion to projects in Central Asia in the past financial year. The bulk of the annual funding—$1.568 billion (90 percent)—was received by Uzbekistan, which is the largest investment from the IFC since the beginning of its activity in the country in 1993.
The received investments were used to support economic growth, expand intraregional ties, and increase resilience to climate change.
The main area of work for the organization in Uzbekistan is the electric power industry. Thus, IFC provided $150 million and assisted in attracting private financing of more than $1 billion for the construction of a thermal power plant in the Syrdarya region. Another $49 million from the corporation was allocated to create a wind power plant in Zarafshan, which is planned to be launched in 2025.
Overall, Uzbekistan received a total of 139.1 trillion Uzbek soums ($11.4 billion) in the first six months of 2023. A significant share of these investments, 59 trillion soums ($4.8 billion), or 42.4 percent, account for foreign investment and loans directed to fixed capital.
