Uzbekistan and the Islamic Development Bank Aim to Double Their Joint Project Portfolio

Tashkent, Uzbekistan (UzDaily.com) — On 17 September, during the International Forum “From Poverty to Prosperity” in Namangan, President of the Republic of Uzbekistan Shavkat Mirziyoyev met with the President of the Islamic Development Bank (IsDB), Muhammad bin Sulaiman Al-Jasser.

During the meeting, the IsDB President congratulated Uzbekistan on the successful organization of the forum and reaffirmed the bank’s readiness to provide comprehensive support for the country’s ongoing efforts to further reduce poverty. The parties discussed ways to expand full-scale cooperation with the bank group within the framework of implementing the strategy of irreversible reforms.

Particular emphasis was placed on the dynamic development of the partnership in recent years: the joint project portfolio has exceeded US$5 billion and covers key sectors of the economy, including transport, infrastructure, housing construction, energy, healthcare, and education. More than 40 percent of the investments are directed toward supporting the private sector.

The President of Uzbekistan proposed the development of a long-term Strategic Partnership Program with the IsDB, aimed at doubling the project portfolio and increasing funding for initiatives in infrastructure, social sectors, and the private sector.

The discussion also focused on the implementation of projects for the development of private business, the construction of modern medical centers in the regions, the modernization of highways, the restoration and concreting of irrigation canals, and other priority areas.