Uzbekistan and IsDB Explore Islamic Finance Tools for Green Procurement

Tashkent, Uzbekistan (UzDaily.com) — The Agency for Industrial Cooperation and State Procurement of Uzbekistan held talks with an Islamic Development Bank (IsDB) delegation on June 12, centering discussions on modernizing the national public procurement system and strengthening support mechanisms for domestic producers seeking integration into major supply chains.

A significant portion of the talks focused on expanding small and medium enterprise access to state contracts — a persistent structural gap in Uzbekistan's procurement landscape — alongside the broader application of Islamic finance instruments as alternative funding mechanisms for public purchasing and industrial development.

Both sides identified sustainable and green public procurement as a priority direction for future cooperation, with plans to leverage IsDB's technical assistance, expert support, and specialized financial tools to implement those principles within Uzbekistan's regulatory framework.

Transparency and anti-corruption measures formed a dedicated block of the agenda. Agency officials and IsDB representatives mapped out approaches to reducing corruption risks in public funds distribution through large-scale deployment of digital solutions — an area where Uzbekistan has made measurable progress in recent years but where gaps remain.

Institutional capacity building and professional training programs for local specialists were also discussed as enablers of the broader reform agenda.

Both parties confirmed mutual interest in long-term expansion of the partnership across industrial cooperation and green economy priorities — two tracks that are increasingly intertwined in Uzbekistan's development strategy as the country pursues its climate commitments alongside industrial modernization goals.