Prospects for expanding cooperation with the Islamic Development Bank discussed

On August 30 this year, Deputy Prime Minister – Minister of Investments and Foreign Trade of the Republic of Uzbekistan S. Umurzakov held a meeting with the President of the Islamic Development Bank Muhammad Suleiman al-Jasser.

During the meeting, they discussed the current state of cooperation, the course of implementation of joint projects, as well as the prospects for deepening partnership between Uzbekistan and the IDB.

An agreement was reached to intensify work on the coordination of 6 new investment projects in the areas of support for small and medium-sized businesses, education, infrastructure construction, healthcare, and improving the quality of life in rural areas.

The readiness of the IDB and its subsidiaries, such as the Islamic Corporation for the Development of the Private Sector, the International Islamic Trade and Finance Corporation, and the Islamic Corporation for Investment Insurance and Export Lending, was voiced to expand mutually beneficial cooperation, with a view to building up a portfolio of joint projects in Uzbekistan with an emphasis on development entrepreneurship, increasing employment and social support for the population.

In addition, the parties discussed the preparations for the Annual Meeting of the IDB Board of Governors, which will be held in Tashkent from September 1 to 4 this year. The IDB President expressed gratitude to the Uzbek side for the high level of organization of the meeting and related events.

He noted that this event aroused great interest from the international community and business representatives from the IDB member countries: as of the current moment, more than 2 thousand people have registered to participate in the meeting and their number continues to grow. More than 2,500 representatives from 57 member countries of the Bank, as well as representatives of international organizations and development institutions, are expected to take part in the event.

Following the meeting, the parties determined the format for further interaction within the framework of the discussed areas of cooperation.

 

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