Tashkent, Uzbekistan (UzDaily.uz) — The Islamic Development Bank (IsDB) and the government of Uzbekistan have signed an agreement to implement a US$202 million project to develop agricultural mechanisation.
The entire project will be financed by the IsDB. The agreement was signed in Bangkok on 15 October 2026 on the sidelines of the annual meetings of the World Bank Group and the International Monetary Fund.
The agreement was a key outcome of a meeting between IsDB Group Chairman Muhammad Al Jasser and International Islamic Trade Finance Corporation (ITFC) Director General Adeeb Yousuf Al Aama and Uzbekistan’s Deputy Prime Minister and Minister of Economy and Finance, Jamshid Kuchkarov.
The project aims to expand access to modern agricultural machinery that offers high efficiency and is adapted to local climatic conditions.
Its implementation is expected to increase agricultural productivity, improve resource use and support the development of agricultural value chains.
In addition to the signed agreement, the participants discussed further areas of cooperation between Uzbekistan and the IsDB Group.
Priority areas include transport, renewable energy, water resource management, healthcare, Islamic finance, support for small and medium-sized enterprises, human capital development and trade finance.
The parties explored opportunities to expand joint efforts in these sectors to support Uzbekistan’s economic transformation and promote sustainable growth.
IsDB Group Chairman Muhammad Al Jasser reaffirmed the bank’s readiness to maintain close cooperation with the Uzbek government.
The partnership is aimed at supporting Uzbekistan’s long-term development priorities and promoting sustainable and inclusive economic growth.
