The first ever project financing in Uzbekistan has completed. The $500 million multi-source financing for Russian oil and gas company, OAO Lukoil, overcame local law constraints to set a benchmark for how to structure such transactions.
This precedent is particularly significant in light of the increasing deployment of investment capital outside of the GCC and the associated adoption of Islamic structures into new markets.
“As more funding is extended to Uzbekistan and the wider...