Tashkent, Uzbekistan (UzDaily.uz) — Uzbekistan and the Islamic Development Bank (IsDB) have discussed agricultural modernisation, infrastructure development and expanding businesses’ access to financing.
The meeting between Uzbekistan’s Deputy Prime Minister and Minister of Economy and Finance, Jamshid Kuchkarov, and IsDB President Muhammad Al Jasser took place on 15 October 2026 in Bangkok on the sidelines of the annual meetings of the International Monetary Fund and the World Bank. The meeting was reported by the Information Service and Communications Department of Uzbekistan’s Ministry of Economy and Finance.
Participants also included Rami Ahmad, IsDB Vice President for Operations, Nodirbek Ochilov, Deputy Chairman of the Central Bank of Uzbekistan, Jasur Karshibaev, an adviser to the Minister of Economy and Finance, and other representatives.
The parties reviewed Uzbekistan’s economic reform priorities and opportunities to expand cooperation on promising projects. One of the main topics was modernising the agricultural sector, including equipping farmers with modern machinery and equipment.
During the meeting, the parties signed an agreement with the IsDB to implement an agricultural mechanisation development project.
The project aims to expand the use of modern, climate-adapted machinery, improve labour productivity, promote efficient resource use and develop value chains in the agricultural sector.
The participants also discussed the development of irrigation systems, roads and rural infrastructure, as well as agricultural financing and support for the mortgage market.
Particular attention was given to small and medium-sized enterprises and the wider use of Islamic financing instruments.
The parties specifically explored the potential use of murabaha and ijara in the financial sector.
Following the meeting, the parties agreed to strengthen cooperation and continue working on the areas discussed.
The ministry’s statement did not specify the agreement’s financial value or the implementation timeline for the agricultural mechanisation project.
