Tashkent, Uzbekistan (UzDaily.com) - At the Ministry of Energy of the Republic of Uzbekistan on 22 October, a meeting was held with the delegation of the Silk Road Fund (China), headed by the President of the Fund, Mr. Wang Yanzhi, to consider current issues of cooperation and prospects for its development, the Press Service of the Ministry of Energy of Uzbekistan reports.

In order to jointly implement projects in the oil and gas sector between Uzbekneftegaz JSC and the Chinese side, primarily through the Silk Road Fund, in July this year a loan agreement was signed in the amount of  US$585 million.

In mid-October, the first financial tranche was implemented as part of partnership activities, and during this meeting, issues of further implementation of the agreements reached were discussed.

Also, the meeting addressed the issue of expanding cooperation in all areas of the energy industry, with the joint preparation of proposals for organizing financing of investment projects.

The Silk Road Fund is a Chinese investment fund that supports infrastructure projects, facilitating trade cooperation and securing funding under the One Belt, One Way of the 21st Century initiative.

The President of China Xi Jinping announced his intention to create such a special Fund on 8 November 2014 at the Dialogue on Strengthening Interconnected Partnership forum on the eve of the APEC summit. The total capital of the Fund is approximately US$40 billion.