Restituted Assets Return to Uzbekistan: Ishonch Fund Turns Stolen Money into Tangible Public Benefit

The assets, originally linked to corruption cases involving Gulnara Karimova, are being repurposed to serve the Uzbek population—most recently through two major national projects in healthcare and education, jointly implemented by the United Nations. So far, USD 313 million has been committed to the Fund through bilateral agreements between the two governments. Of this amount, USD 67 million in restituted funds has been disbursed by the Fund’s Management Committee to two projects in health and education, which are already delivering measurable results. Work is underway to allocate and plan the use of the remaining funds.

“For Switzerland, our primary objective is to restitute the money transparently and in a way that transforms lives in Uzbekistan,” said Konstantin Obolensky, Ambassador of Switzerland to Uzbekistan. “By partnering with the United Nations, we’ve created a Fund that invests in joint projects delivering real, measurable impact.”

“For me, there is only one real measure of success for the Fund,” said Sabine Machl, the UN Secretary General’s representative in Uzbekistan and a member of the Fund Management Committee. “If the people of Uzbekistan feel a difference in their lives, then the restitution is working. This is not ordinary donor funding—it is a significant responsibility and opportunity for the UN to deliver meaningful change through joint programming.”

The Ishonch Fund represents a new model for transparent restitution: all funds are administered by UN agencies under strict oversight and with the active involvement of civil society. A Civil Society Advisory Council (CSAC) comprising 19 independent activists plays a central role in monitoring implementation, reviewing project decisions, and promoting accountability.

“We participated in project evaluations and received Fund ID cards allowing independent monitoring,” said Sayyora Khodjaeva, the Chair of the Civil Society Advisory Council. Civil society representatives also observe tender and procurement processes and serve on project steering committees. "As is known, Uzbekistan previously paid insufficient attention to civil society. However, in recent years, trust in civil society has been growing, and the involvement of non-governmental organizations in the activities of the Ishonch Fund reflects this increasing trust and a shift in the attitude of government agencies toward us. The establishment of the CSAC under the Ishonch Fund has created an opportunity to actively promote transparency in the restitution process, which will undoubtedly benefit the people of Uzbekistan," added Ms. Khodjaeva.

The Fund’s health project—one of its flagship initiatives—targets all 230 perinatal centers across Uzbekistan. This nationwide effort provides modern equipment and advanced training for medical professionals, dramatically improving survival rates for premature babies and reducing maternal complications.

Official Ministry of Health data shows that survival rates for low-birth-weight infants— such as those born below 1500 grams—have improved significantly. Previously, three in ten such babies did not survive. Today, that figure has fallen to just one in four.

For the citizens of Uzbekistan, these efforts are more than abstract reforms—they are a return of what was unjustly taken, now working to build a stronger, healthier, and more just society.

For more information about the Ishonch Fund, please contact: Jonas Astrup, Head of the Fund Secretariat at jonas.astrup@un.org or visit www.ishonch.org