Uzbekistan’s cooperation with the Islamic Development Bank (IsDB) has reached a milestone, with a project portfolio surpassing $4bn, 40% of which supports private-sector growth, according to the presidential press service.
During his meeting with IsDB President Muhammad Sulaiman Al Jasser on November 12, President Shavkat Mirziyoyev highlighted the importance of expanding this partnership to drive Uzbekistan’s economic development and regional integration.
Held as part of President Mirziyoyev’s visit to Baku, the discussions emphasized further collaboration in key areas including education, healthcare, infrastructure, entrepreneurship, ecology, and investment.
Mirziyoyev praised the IsDB for its role in organizing the Arab Coordination Group’s meeting in Tashkent this past March, which brought together top financial institutions from the Islamic world to strengthen regional partnerships and support development goals.
A joint fund established with IsDB participation is steadily building capital to support Uzbekistan’s economic opportunities and attract private investment. Both leaders highlighted the bank’s potential to further finance major projects in Uzbekistan’s industrial and mining sectors, underscoring a shared vision for sustainable growth and economic resilience.
The investment inflows under the Islamic Development Bank (IsDB) Country Strategy for Uzbekistan have already achieved 50% of the $1.2bn target set for completion by the end of 2026. This milestone was emphasized during virtual talks on November 6 between Uzbekistan’s Minister of Investment, Industry, and Trade, Laziz Kudratov, and IsDB President Muhammad Al Jasser.
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