As of now, investment inflows under the IsDB Country Strategy for Uzbekistan have reached 50% of the $1.2bn target set for completion by the end of 2026. This progress was highlighted during virtual discussions on November 6 between Laziz Kudratov, Minister of Investment, Industry, and Trade of Uzbekistan, and Muhammad Al Jasser, President of the Islamic Development Bank (IsDB).
The talks focused on the successful implementation of the strategy, with both sides noting that projects supported by the IsDB’s subsidiary, the International Islamic Trade Finance Corporation (ITFC), have surpassed expectations. These private sector initiatives, aimed at fostering trade and investment, have achieved 90% of their targets—two years ahead of schedule.
Looking ahead, the discussion also covered plans for new projects in key sectors such as energy, transport infrastructure, irrigation and water resource management, education, and healthcare. These projects will be carried out under public-private partnership (PPP) frameworks, further strengthening the economic ties between Uzbekistan and the IsDB.
IsDB leadership reiterated their ongoing commitment to Uzbekistan’s development, including additional funding for innovation and technological upgrades as the country advances toward a green economy. Both sides affirmed their shared vision for long-term cooperation to drive sustainable economic growth in Uzbekistan.
Earlier, the IsDB, in partnership with the United Nations Development Programme (UNDP), launched the second phase of its Integrated Rural Development project. This phase continues the efforts to improve socio-economic conditions in remote regions of Uzbekistan. The project, which will be implemented by the Ministry of Economy and Finance, aims to enhance local infrastructure and address critical community needs over the next four years.
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