He assumed the position of the Director General on September 8th, 2022 and the Executive Director of the Fund for Reconstruction and Development of the Republic of Uzbekistan (UFRD) on August 8th, 2017 accordingly. Prior to assuming the role of the Director General, Mr. Vafaev served as Deputy Minister of Investments and Foreign Trade, during which he oversaw project financing of large scale industrial and infrastructure development projects as well as coordination of investment and advisory support of development partners. Mr. Vafaev previously worked as Director of the Department of External Assets and Liabilities of the Ministry of Finance. Between 2002-2007 he served as an Advisor to Executive Directors of the International Monetary Fund and the World Bank. He held various positions at the Central Bank and served as the Head of Department for Foreign Economic Relations of the Cabinet of Ministers from 1996 to 2002. Mr. Vafaev holds Master’s in Development Economics from Johns Hopkins University.
