The United States, Israel, and the United Arab Emirates launched the Fund on October 20, 2020, to support private sector-led investment and development initiatives that promote regional economic cooperation. The Fund fulfills a promise made in the Abraham (Ibrahim) Accords and demonstrates the benefits of peace through tangible projects that improve the lives of the region’s people, U.S. Embassy in Tashkent writes.

According to the Embassy, Uzbekistan’s commitment of up to $50 million is a testament to the Abraham (Ibrahim) Accords and the fact that improved economic cooperation and connectivity is an objective shared by many, and one that will also bring prosperity to Uzbekistan.

“We are proud of our growing partnership with Uzbekistan and see their support for the Abraham (Ibrahim) Fund as an exciting step towards expanding our shared objectives,” said Adam Boehler, CEO of DFC. “We look forward to continued progress on the Abraham (Ibrahim) Fund and welcome participation from other countries across the region.”

“We hope that Uzbekistan’s support in the Abraham (Ibrahim) Fund will become an excellent example of our countries’ commitment to the development of regional cooperation and play an important role in reducing poverty, increasing productivity, ensuring employment and economic growth in the region,” said Sardor Umurzakov, Deputy Prime Minister – Minister of Investments and Foreign Trade of Uzbekistan.