EDB to create a private equity fund for Central Asia

EDB to create private equity fund for Central Asia

The EDB, together with its partners, intends to establish a new private equity fund for the countries of Central Asia and the South Caucasus. The fund's capital will be directed to promising companies in the region.

As reported by the bank's press service, the Central Asia and South Caucasus Private Equity Fund (CACPEF) is being created with the participation of China Investment Corporation, Oman Investment Authority, the Fund for Reconstruction and Development of Uzbekistan, the Turkish OYAK fund, the EDB, and Shenwan Hongyuan Securities.

The fund will pool the capital, expertise, and business contacts of institutional investors from China, the Middle East, and Central Asia. It will help companies in the region gain access to the partners' industry expertise, technologies, and market resources.

Daniyar Imangaliev, Deputy Chairman of the EDB Management Board, emphasized that companies in Central Asia and the South Caucasus need long-term capital to expand their businesses and enter new markets. According to him, participation in setting up the fund will help attract additional resources into the economies of the member states and support the growth of regional companies.

On Friday, October 23, President of Uzbekistan Shavkat Mirziyoyev discussed major projects with Todd Boehly, head of the American investment holding company Eldridge Industries. Mining, metallurgy, construction, and the implementation of digital solutions in urban infrastructure were identified as priority areas of cooperation.