Uzbekistan, Oppenheimer sign international financing deal

Photo: Tashkent Regional Administration

BAKU, Azerbaijan, October 21. Tashkent city authorities and U.S. investment bank Oppenheimer & Co. have signed a cooperation agreement to expand the Uzbek capital’s access to international financing and explore funding opportunities for major infrastructure and urban development projects on October 21 in Tashkent.

This was reflected in the statement by the Tashkent regional government, following a meeting between Tashkent Mayor Shavkat Umurzakov met with Max Lami, Oppenheimer & Co.’s chief executive officer for investment banking in Europe, the Middle East and Africa to discuss the Uzbek capital’s access to international capital markets.

Additionally, the parties discussed expanding public-private partnerships, using international financial instruments, adopting international best practices in municipal finance management and improving the skills of local specialists.

Following the meeting, the sides signed a cooperation agreement.

The agreement is expected to provide a framework for expanding engagement with international financial institutions and investors, strengthening Tashkent’s investment potential and securing additional financing opportunities for future urban development projects.

Oppenheimer & Co. Inc. is a U.S. investment bank and full-service financial services firm with roots dating back to 1881. It provides investment banking, securities brokerage, wealth management, research and capital markets services to individuals, businesses, institutional investors and public-sector clients. The company is a subsidiary of publicly traded Oppenheimer Holdings Inc.

Oppenheimer’s public finance division advises state and local governments, public agencies and other borrowers on raising capital for infrastructure and public projects. Its services include municipal bond underwriting, debt financing and public-private partnership advisory services, including for transportation, water and wastewater infrastructure.