IDB to provide Uzbekistan with $1.3B under new partnership strategy

18 September 2018 14:48 (UTC+04:00)

By Kamila Aliyeva

The Islamic Development Bank (IDB) and the government of Uzbekistan signed a new partnership strategy for 2018-2021 worth $ 1.3 billion, IDR President Bandar Al Hajjar said on September 18, Uzbek media outlets reported.

“Today we signed a country partnership strategy with the government for $ 1.3 billion. This amount will be distributed to various sectors: transport, energy, education and health, agriculture,” Hajar told reporters.

The head of the IDB noted that the bank supports the reforms implemented by the president and the government of Uzbekistan.

“We are happy that we are taking part in the implementation of initiatives carried out by the government of Uzbekistan,” he added.

In the framework of the visit of the president of the IDB, the conference entitled as "Day of the IDB Group" and a round table with the participation of the Arab Funds – members of the Arab Coordination Group will take place on September 18-19.

The Islamic Development Bank is a multilateral development bank, working to improve the lives of people by promoting social and economic development in Muslim countries and communities worldwide, delivering impact at scale.

It was founded in 1973 by the Finance Ministers at the first Organization of the Islamic Conference (now called the Organization of Islamic Cooperation).

The present membership of the Bank consists of 57 countries. 

Uzbekistan became a full member of the IDB on September 3, 2003. According to the Uzbek State Committee for Investment, during the period of cooperation with the IDB, 17 projects worth $ 926 million were realized. Today, nine projects worth more than $ 1 billion are at the implementation stage.

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Kamila Aliyeva is AzerNews’ staff journalist, follow her on Twitter: @Kami_Aliyeva

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