JEDDAH, SAUDI ARABIA – Islamic Development Bank (IsDB) President and Group Chairman Dr. Muhammad Al-Jasser and Uzbekistan Minister of Investments, Industry, and Trade Laziz Kudratov have signed three financing agreements for the development of infrastructure and social services in the Central Asian country.
These agreements aim to promote sustainable economic growth, enhance rural development, and improve early childhood education in Uzbekistan.
Under the first agreement, IsDB will provide US$260 million in financing for the Integrated Rural Development Project, which is being implemented under the IsDB Group’s Food Security Response Program (FSRP).
The project will empower local communities, improve their access to quality and resilient infrastructure and strengthen knowledge of climate-smart agriculture practices.
By reducing rural poverty and increasing the resilience of the target population, this project will contribute to achieving sustainable development in the country.
The second financing agreement, worth US$106.7 million, is to support the reconstruction and upgrading of the M39 road in Uzbekistan.
This project will improve the efficiency of the road transport infrastructure and ensure the safe movement of goods and people along the project road section.
The third agreement provides US$30 million in financing for the Enhancing Access to Quality Early Childhood Education Project, which will support the government of Uzbekistan’s target of achieving universal pre-school enrollment.
It aims to enhance access to quality early childhood education facilities and improve the quality of early learning environments in Uzbekistan.
