Ways to expand cooperation with the Islamic Development Bank were considered

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

Today, together with ITB, projects worth 1.2 billion dollars are being implemented on modernization of housing and communal infrastructure, development of villages, healthcare, education, water management, entrepreneurship and other areas.

During the negotiations, issues of further expansion of cooperation were discussed. By the end of this year, the Bank has adopted a special program, which provides for the approval of financing of 1.6 billion dollars of extremely important projects and programs. As noted, this will be an important step towards bringing relations with IDB to a qualitatively new level and adopting the country's cooperation program for 2022-2023.

It was noted that it is important to establish a full-fledged representative office of the bank in Tashkent as soon as possible, and to introduce new financing tools.

Confidence was expressed that the Fund for the Expansion of Economic Opportunities of Uzbekistan will make an important contribution to the solution of tasks related to reducing poverty, increasing the welfare of the population, and developing entrepreneurship, especially women's and youth business.

Cooperation in the implementation of regional transport infrastructure projects, environmental programs on the Aral Bay, as well as humanitarian aid to Afghanistan with the support of a special trust fund of the OIC and issues of its socio-economic recovery were exchanged.

An agreement was reached on the consideration of the terms of holding the next meeting of the Arab coordination group, which includes the leading financial institutions of the Islamic world, headed by the bank, in Tashkent.