The Abu Dhabi Development Fund (ADFD) – the UAE’s national agency for international development assistance has signed three agreements with the government of Uzbekistan. The Arabian Business writes about it.

These include a memorandum of understanding to assess the possibility of financing infrastructure projects in Samarkand in the amount of $300 million and an agreement on a concessional loan of $5 million to develop feasibility studies for these projects.

An agreement on the establishment of an investment company was also signed between the ADFD and Uzbekistan to attract investments into the republic.

According to the General Director of ADFD Mohammed Saif Al-Suweidi, a concessional loan of $5 million will be used to prepare plans and consultation studies that are needed to implement projects to modernize Samarkand’s infrastructure and accelerate the city’s socio-economic development.

It should be noted that the joint investment company is created to attract money to a number of industries, first of all, tourism, industry and services.