Washington hosts a meeting with the US Private Overseas Private Investment Corporation
20/07/2019 12:45
Washington hosts a meeting with the US Private Overseas Private Investment Corporation
20/07/2019 12:45
Tashkent, Uzbekistan (UzDaily.com) -- A delegation of the Republic of Uzbekistan, visiting the United States, held talks with the acting President and Chief Executive Officer of the United States Overseas Private Investment Corporation David Bohigian in Washington on 18 July 2019.
According to the Embassy of Uzbekistan, the United States Overseas Private Investment Corporation supports US investors in insuring property interests against political risks, financing projects and lending private investors by providing short-term and long-term loans.
Since 1993, Uzbekistan has implemented 10 projects worth US$231 million in the areas of telecommunications, geology, tourism and education with the involvement of financial resources and insurance of the Corporation.
At the beginning of the conversation, David Bohigian highly appreciated the ongoing large-scale reforms in Uzbekistan aimed at ensuring the sustainable development of the country, liberalizing the economy and improving the business climate, and supporting investors and business initiatives. According to him, “the visit of such a representative Uzbek delegation to the United States with meetings and investment forums in the cities of Washington and New York with the participation of large American companies is an extremely important signal to the US business community that Uzbekistan is a reliable partner and invest in it is attractive, profitable and safe.
The head of the Corporation noted the “new opportunities opening up for Uzbekistan” in expanding cooperation on the use of financial instruments and concessional loans of the newly created US International Development Finance Corporation, which will combine the functions of the Private Overseas Investment Corporation and the US Agency for International Development. The fund have a budget of more than US$60 billion.
The parties agreed to establish direct working contacts with the aim of providing financing for projects in the fields of energy, tourism, construction of affordable housing, as well as the provision of insurance guarantees and lines of credit for commercial banks of Uzbekistan.
The US side also expressed its willingness to participate in the Uzbek-US business forum, scheduled to be held in Washington in October in cooperation with the US-Uzbek Chamber of Commerce.
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