The governments of the United States, the Republic of Kazakhstan and the Republic of Uzbekistan announced the creation of the Central Asian Investment Partnership, World of NAN reported, citing the U.S. Embassy and Consulate in Kazakhstan.
The text of the statement was released by the three governments. Participants welcome other countries to join the initiative to promote regional economic partnership and prosperity.
"Under this initiative, the U.S. Development Finance Corporation (DFC), the Republic of Kazakhstan and the Republic of Uzbekistan will make every possible effort to invest at least $1 billion over five years in support of projects that foster private sector growth and expand economic ties in Central Asia and the broader region," the statement read.
The Central Asia Investment Partnership will promote private sector-led projects that exemplify international standards of infrastructure quality and promote inclusive, transparent and sustainable investments. In doing so, the partners will maximize the success and positive impact of the projects and mobilize additional private investment in the region.
"The Central Asia Investment Partnership is an important step in advancing U.S. efforts to support Central Asia's economic growth and prosperity. Working through the C5+1 platform, this initiative will seek to leverage opportunities for increased trade, development and engagement to make every country in Central Asia stronger and more prosperous. As the region seeks to recover from the economic consequences of the COVID-19 pandemic, such cooperation and sustainability are more important than ever. The Central Asia Investment Partnership is based on respect for the development and prosperity of each of the Central Asian countries," noted the text of the statement issued by the three governments.
In addition to supporting regional projects, DFC will continue to deepen its bilateral partnerships in Central Asia by signing bilateral memoranda of understanding with the Republic of Kazakhstan and the Republic of Uzbekistan and exploring opportunities to support investment funds and other bilateral projects.