MIFT: The Islamic Development Bank approved financing of two projects in Uzbekistan for USD 280 million

On December 19, 2020, the Board of Directors of the Islamic Development Bank (IDB) approved the financing of two large-scale and economically significant projects in Uzbekistan totaling USD 509.2 million, reports “Dunyo” IA correspondent.

According to the Ministry of Investments and Foreign Trade of Uzbekistan, the first project worth USD 200 million provides the modernization of a number of infrastructure and social facilities in the Republic of Karakalpakstan, as well as Khorezm, Bukhara and Navoi regions. The project includes the construction and re-engineering of 1,161 km of water supply systems, 626 km of access and internal roads, 1,154 km of low-voltage power lines, 693 km of irrigation and drainage networks, 155 educational, medical, and more than 100 other facilities. This project will improve the living conditions of more than 710 thousand people, as well as will significantly impact on the sustainable development of these regions.

The second project financed by the Bank in amount of USD 80 million provides the second phase of the program to comprehensively improve the system of medical services for patients with cancer by equipping domestic clinics with modern medical equipment. This project will improve the diagnostic of cancer diseases at the early stages, and generally improve the quality of patient treatment: more than 1.8 million women will be able to have diagnostic screening, and 150,000 cancer patients will receive quality medical care. It should be noted that during the first phase of this program, the IDB allocated USD 37 million.

The IDB is a reliable partner of Uzbekistan in the reforms carried out in the Republic. Over the years of cooperation, since 1994, the IDB totally provided funds worth more than USD 2 billion. They were used to implement dozens of major investment projects.

In addition, there is an agreement with the IDB to hold the 46th Annual Meeting of the Board of Governors in 2021, which will involve delegations from 57 Bank’s member-countries, heads of international organizations, foreign companies, financial structures, and public associations.

Such an event in the Republic will emphasize the high level of cooperation with the IDB, and will also draw the attention of the wide international community to positive trends and transformations in all social and economic areas of the country’s life.

“Dunyo” IA