Tashkent, Uzbekistan (UzDaily.com) —  Uzbekistan and Russia have launched an investment platform aimed at financing mutually beneficial projects, as announced by Uzbek Prime Minister Abdulla Aripov during the 5th meeting of the Russia-Uzbekistan intergovernmental commission held in Tashkent.

The Uzbek Prime Minister highlighted that this platform was created at the initiative of the presidents of both countries. The platform will focus on financing key infrastructure and industrial projects within Uzbekistan.

It was previously reported that the platform’s initial capital would amount to US$500 million, with Russia contributing US$400 million.

Aripov emphasized the growing cooperation between the two nations, including at the regional level. He noted the active participation of Uzbek government agencies and regions in major forums such as the St. Petersburg Economic Forum, the Caucasus Investment Forum, the Kazan Forum, and INNOPROM in Yekaterinburg.

One of the key areas of collaboration is in transport and transit. Uzbekistan is keen on developing new international transport corridors to access promising markets. According to Aripov, the number of direct flights between Uzbekistan and Russia has reached almost 300 per week, a record high. Additionally, the full restoration of Uzbek-Russian railway services continues to expand.