First Dy. PM, Uzbekistan, Signs US$ 270 Million Agreements with IDB

Jeddah, KSA, 25.05.2013 – First Deputy Prime Minister and Minister of Finance of Uzbekistan, Dr. Rustam Azimov, accompanied by a senior delegation comprising Mr. Saidakhmat Rakhimov, Chairman of the National Bank of Uzbekistan for Foreign Economic Activity and Mr. Egambergen Palvanov, First Deputy Director-General of Uzbekistan Airways, singed two agreements with the IDB to finance purchase of two Boeing airplanes for the Uzbekistan Airways (US$ 170 million) and for modernization of hydro-power
stations (US$ 100 million).

During the meeting with IDB Group Chairman Dr Ahmad Mohamed Ali, the Uzbek First Deputy Prime Minister praised IDB’s developmental role and stated that the agreement signing is reflective of the ongoing partnership between his country and the IDB. “I am proud that other developing nations are recognizing the growing role of the IDB,” Dr. Rustam Azimov said adding that Uzbekistan shall be relying more on IDB for the structural reforms in the country. Referring to the last week’s decision by the
IDB Board of Governors at their 38th Annual Meeting in Dushanbe, Tajikistan, to triple the capital of the Bank, the First Deputy Prime Minister called the decision a wise one and reiterated that “Uzbekistan looks forward to further strengthening its partnership with the IDB.”

The IDB Group Chairman expressed the Bank’s preparedness to cooperate with all member countries and to provide the best support to see increased development of partnership with Uzbekistan.