The agreement was reached at the meeting of the member of Arab Coordination Group in Tashkent, which took place last week.

The Uzbek official noted that Uzbekistan presented a list of investment projects worth US$1.6 billion, which are planned to implement with attraction of resources of the Arab Coordination Group.

In particular, it is planned that the funds will be used to equip medical institutions, universities, introduction of alternative sources of energy at general schools, reconstruction of sewage and water supply systems, road construction and electrification of railroads.

Arab Coordination Group unites the Islamic Development Bank, Saudi Fund for Development, Kuwait Fund for Arab Economic Development Fund, the OPEC Fund for International Development, and Abu Dhabi Fund for Development.

Currently, the Arab financial institutions finance projects for US$500 million in Uzbekistan in such spheres as social, energy, infrastructure and private entrepreneurship.