Uzbekistan, Switzerland review economic ties, ISHONCH Fund projects

Photo: The Ministry of Economy and Finance of Uzbekistan

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.