Uzbekistan, Islamic Development Bank Agree Projects

Tashkent, Uzbekistan (UzDaily.com) — On 21 May, the head of the Ministry of Investment, Industry and Trade of Uzbekistan, L. Kudratov, held a meeting with a representative of the Islamic Development Bank (IsDB), following which agreements were reached on expanding investment cooperation and a corresponding program was signed.

During the visit of the Islamic Development Bank mission to Uzbekistan, the sides summed up three days of work, during which the bank’s representatives familiarized themselves with ongoing projects, investment opportunities, and existing programs in the country.

Particular attention during the talks was paid to the current state of bilateral cooperation and potential areas for further partnership. It was noted that the joint project portfolio between Uzbekistan and the IsDB Group exceeds $5 billion, while the implementation of 20 new projects worth around $3 billion is under consideration.

As a result of the meeting, a program of prospective investment projects was signed. The document includes an agreed list of initiatives (pipeline of projects), which will serve as the basis for shaping the further cooperation strategy between the parties.