Ways of enhancing Uzbekistan's collaboration with the Islamic Development Bank were considered in Jeddah

Yesterday, President Shavkat Mirziyoyev, as part of the state visit to Saudi Arabia, received the President of the Islamic Development Bank (IsDB), Muhammad Sulaiman Al Jasser, reports “Dunyo” IA correspondent.

According to the press service of the Head of our state, the President of Uzbekistan once again congratulated the IsDB President on the successful holding of the 46th Annual Meeting of the Board of Governors of the Bank in September last year in Tashkent.

President Shavkat Mirziyoyev expressed satisfaction with the dynamic development of the partnership with the IsDB, emphasizing the strategic role of the Bank in promoting the program of large-scale reforms in Uzbekistan.

In Uzbekistan, projects are being implemented together with the IsDB to modernize the housing and communal infrastructure, develop rural areas, healthcare, education, water management, entrepreneurship and others for $1.2 billion.

During the talks, issues of further enhancing collaboration were discussed. A program was adopted, providing for the Bank’s approval by the end of the year of funding for major projects and programs for $1.6 billion. As noted, this will become an important step towards bringing relations with the IsDB to a qualitatively new level and adopting a country cooperation program for 2023-2026.

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

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

Views were exchanged on issues of interaction in the implementation of 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 IsDB trust fund.

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