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IDB allocates over $1B to boost various sectors of Uzbek economy

19 September 2018 15:23 264

BAKU. KAZINFORM The Islamic Development Bank (IDB) will allocate $1.3 billion to Uzbekistan within the framework of the partnership strategy for 2018-2021, Uzbek media reported referring to the results of the "IDB Group Day" conference held in Tashkent.

The corresponding document was signed by Chairman of the State Committee of Uzbekistan for Investments Sukhrob Kholmuradov and President of IDB Bandar AL Hajjar, who is on a visit to Uzbekistan, Trend reports.

According to Hajjar, the bank is ready to support Uzbekistan in implementing projects aimed at developing the economy and innovation activities.
Out of the total volume of loans, $475 million will be spent on energy, transport and urban development projects, $300 million on housing and infrastructure in rural areas, $140 million on social development and $85 million on private business projects in the country.

Uzbekistan became a member of the IDB in 2003. Earlier, the bank allocated over $1.4 billion to the country for implementation of 26 projects in the spheres of health, education, irrigation and melioration, energy, water supply, municipal services, road infrastructure development, small business support.

Keywords: Uzbekistan, Economy, IDB,