The OPEC Fund saves 35 million dollars to support agriculture and climate work in Uzbekistan
Vienna on March 11 / WAM / The OPEC International Fund “OPEC Fund” agreed to provide a 35 million dollar loan to the “Asaka Bank” bank, which the country of Uzbekistan has most of its shares, to enhance food security, expand the opportunities for financing agricultural projects and small farmers and pay climate work in Uzbekistan.
Dr. Abdel -Hamid Al -Khalifa, Director General of the OPEC Fund, said in the statement issued by the Fund’s headquarters in Vienna, that the partnership with the “Asaka Bank” supports two basic priorities for Uzbekistan, namely guaranteeing food security and addressing climate change, stressing that the new financing reflects the OPEC’s commitment to enhance economic growth and support climate work efforts.
The statement stated that the “Asaka Bank” intends to use the fund’s loan in enhancing efforts to adapt to climate change in light of the agricultural sector exposure to extremist air phenomena and water scarcity, as it plans to lend to small and medium -sized institutions and agricultural companies, which enables them to reach the necessary funding to help farmers and rural institutions to secure basic services, enhance productivity and use modern technology, which enhances productivity and flexibility in the agricultural sector, which contributes By 25% of the country’s gross domestic product and accommodates about a quarter of the workforce.
It is worth noting that the OPEC Fund is an old partner for Uzbekistan for 25 years, during which he supported about 30 projects in the public and private sectors with a total of about 800 million dollars. The framework of the Qatari partnership, which was signed with Uzbekistan in 2024, allocates $ 500 million to finance the sustainable development agenda in Uzbekistan until 2029.
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