BAKU, Azerbaijan, October 14. Uzbekistan and
Switzerland discussed expanding economic and financial cooperation,
advancing joint projects and accelerating initiatives under the
ISHONCH Fund during a meeting between Ilhom Norqulov, Uzbekistan’s
first deputy minister of economy and finance, and Swiss Ambassador
to Uzbekistan Simone Giger on October 14.
This was reflected in the statement by Uzbekistan's Ministry of
Economy and Finance.
The meeting focused on strengthening bilateral economic ties,
implementing mutually beneficial projects and identifying
additional areas for cooperation.
The parties also reviewed joint efforts under the ISHONCH Fund
and discussed measures to speed up the implementation of projects
supported by the initiative.
Particular attention was given to identifying priority areas for
cooperation, supporting promising initiatives and improving the
effectiveness of ongoing projects.
The meeting concluded with discussions on opportunities to
deepen economic and financial ties, make more effective use of
existing cooperation mechanisms and promote initiatives aimed at
improving living standards in Uzbekistan.
Established in 2022 under a restitution agreement between
Uzbekistan and Switzerland, the ISHONCH Fund channels returned
assets into development programs benefiting the Uzbek population.
Managed in cooperation with the United Nations, the fund supports
projects focused on improving healthcare and education, with an
emphasis on transparency and accountability. A total of $313
million has been committed to the fund.
