The Ways to Expand Cooperation with the Islamic Development Bank Considered

On August 18, the President of the Republic of Uzbekistan Shavkat Mirziyoyev received the President of the Islamic Development Bank (IDB) as part of a state visit to Saudi Arabia Muhammad bin Sulayman Al Jassir.

The President has once again congratulated the IDB President on the successful holding of the 46th Annual Meeting of the Bank’s Board of Governors in Tashkent last September.

The President of Uzbekistan expressed satisfaction with the dynamic development of partnerships with the IDB, emphasizing the strategic role of the Bank in promoting the program of large-scale reforms in Uzbekistan.

Currently, the projects for the modernization of housing and communal infrastructure, rural development, healthcare, education, water management, entrepreneurship and others are being implemented in our country together with the IDB for a total of $1,2 billion.

During the negotiations, the issues of further expansion of cooperation were discussed. A separate program has been adopted, which provides for the Bank's approval by the end of the year of financing of the most important projects and programs in the amount of 1,6 billion dollars. As noted, this will be an important step towards bringing relations with the IDB to a qualitatively new level and adopting a country cooperation program for 2023-2026.

The importance of the earliest organization of the activities of a full-fledged representative office of the Bank in Tashkent, the introduction of new financing instruments was noted.

The confidence was expressed that the Fund for the Expansion of Economic Opportunities of Uzbekistan will be able to make an important contribution to solving the tasks of reducing poverty, improving the welfare of the population, and developing entrepreneurship, especially among women and the youth.

There was an exchange of views on the cooperation in implementing the important regional transport infrastructure projects, environmental programs in the Aral Sea region, as well as the provision of humanitarian assistance to Afghanistan and its socio-economic recovery with the support of a separate IDB trust fund.

An agreement was reached to consider the dates for holding the next meeting of the Arab Coordination Group, headed by the Bank and including the leading financial institutions of the Islamic world in Tashkent.