Tashkent Signs Cooperation Agreement with Oppenheimer & Co.

Tashkent and the investment banking firm Oppenheimer & Co. have signed an agreement on mutual cooperation. The parties intend to develop cooperation in attracting investment and financing urban projects. The document was signed following a meeting between Tashkent Hokim Shavkat Umurzakov and Max Lami, Chief Executive of Oppenheimer & Co.'s investment banking division for Europe, the Middle East and Africa.

The sides discussed prospects for Tashkent entering international capital markets, including the possible issuance of municipal bonds, and mechanisms for attracting investment to large infrastructure and urban development projects. Public-private partnership, international financial instruments, foreign experience in managing urban finances and upgrading the qualifications of local specialists were also addressed.

The agreement is expected to serve as a basis for expanding cooperation with international financial institutions and investors, and to help attract additional funding for Tashkent's promising projects.