“Ishonch” Fund to Allocate US$20 Million for Improving School Infrastructure in Remote Areas

Tashkent, Uzbekistan (UzDaily.com) — The “Ishonch” (Trust) Fund has announced a new US$20 million initiative aimed at modernizing water supply, sanitation, heating, and energy efficiency systems in 45 schools located in remote regions.

The project will benefit over 31,000 children, providing them with safer and more comfortable learning environments. Funding comes from assets returned to Uzbekistan in criminal cases related to corruption.

The Ishonch Fund was established in 2022 under a restitution agreement between Switzerland and Uzbekistan to return illicitly acquired assets in the interest of the Uzbek people.

Currently, the Fund manages US$313 million, of which US$87 million has already been invested in programs that expand public access to quality healthcare and education services.

The Fund operates based on the principles of the United Nations and the Global Forum on Asset Recovery (GFAR), emphasizing transparency, accountability, participation, and the protection of public interests.

Its mission is to ensure that the restitution process is practical, timely, and fair, and that the returned assets deliver tangible benefits to the citizens of Uzbekistan.