According to the MFERIT, the session will be held in Jeddah, Saudi Arabia, on 24-26 June 2014.

It is expected that the delegation of Uzbekistan will hold bilateral negotiations with the President of IDB Group Ahmad Mohamed Ali. The sides will discuss perspectives of bilateral cooperation.

Islamic Development Bank (IDB) was founded on 18 December 1973 at the session of the Ministers of Finance of the Organization of Islamic Conference and started its activities in October 1975. The IDB headquarters are located in Jeddah, Saudi Arabia. The bank created three regional offices in Rabat, Kuala Lumpur and Almaty, as well as 11 offices. IDB was created as an intergovernmental credit organizations, members of which are Muslim countries.

Uzbekistan started cooperation with the IDB in 1992, when the bank allocated US$1.4 million grant to Muslims Board of Uzbekistan. During the visit to Iran, the Uzbek President Islam Karimov met the President of IDB Ahmad Muhammad Ali. The sides considered issues of accession of Uzbekistan to the IDB, perspectives of cooperation, development of interaction between the IDB and financial institutes of Uzbekistan.

At the 28th annual meeting of IDB Group in Almaty in September 2003, Uzbekistan was accepted to the IDB as full-fledged member. Within the 29th annual session of the IDB Governors’ Council (Tehran, 2004), Uzbekistan became member of the Islamic Corporation for the Development of the Private Sector (ICD). The ICD actively participate in financing private sector, rendering consulting services both public and private sector in implementation of programme on privatizing and restructuring of the companies.

Main direction of the activities is long-term crediting and rendering technical assisting for implementing development projects in such areas as agriculture, irrigation and land-reclamation, education, healthcare, water supply, development of infrastructure, providing credit lines to small and private businesses, etc.

Within cooperation, the IDB financed 11 projects in Uzbekistan. Currently, the sides are implementing 12 projects and are developing three projects.