Odilbek Isakov

CEO & Co-Founder

Odilbek Isakov is the CEO and Co-Founder of Infrasia Capital Ltd.
During 03/2019– 02/2023, Odilbek served as the Deputy Minister of Finance of Uzbekistan responsible for Public-Private Development Agency, Debt Management Office, State Treasury and Capital Markets Development.
Key achievements during his time in the government:
Modernisation of regulatory framework: the Law “On Public-Private Partnership” (2019), the Law “On Public Procurement” (2021), the Law “On State Debt” (2023) and the Law “On Capital Markets” (drafting completed)
Development of infrastructure projects: commercial close of 10 projects worth USD3.8bn in energy, utilities and healthcare during 2021-2022
External funding: USD2.6bn Eurobonds & USD20bn sovereign loans from IFIs to finance infrastructure projects and state budget deficit (2019-2022)
Transformation of government bond market: government bond market size grew to UZS12trn (USD1.1bn) from UZS600bn (USD70m) between 2018 and 2022
Capital markets reforms: new Law on the “Capital Markets” drafted, “UzAuto” IPO (largest ever) completed, new decree on capital market infrastructure upgrade drafted, the project bridging the local market to “Clearstream” started.
Introduction of the ESG: Debt UZS2.5trn SDG bond issuance (ICMA compliant) in CEEMEA region in 2021 with subsequent impact reports.
Landmark privatisation: Sale of government’s stake in Coca-Cola Uzbekistan for USD252m (2020-2021) to strategic foreign investor.
Prior to joining the Government of Uzbeksistan, Odilbek had a 12-year successful career at HSBC:
Advised governments and corporates in CEEMEA region to raise debt funding in capital markets
Successfully originated and executed 70 deals raising over USD115bn for clients in CEEMEA (e.g. Poland, Saudi Arabia, Turkey, South Africa, Romania, Slovakia and other CEE countries)
Odilbek holds MSc in Finance degree from the University of Strathclyde and is a CFA® charterholder.