IDB signed financing agreements for US$180m projects in Uzbekistan

Tashkent, Uzbekistan
IDB delegation led by Dr. Rami Mahmoud Saeed, Director, Country Department visited Tashkent, Uzbekistan during 8-9 November, 2010, to co-sign with the Government of Uzbekistan financing agreements for 2 priority projects amounting to US$180m. IDB will extend a record amount of US167.2m for the Reconstruction and upgrading of M39 Road in Surkhandarya region, biggest operation of IDB Group in Uzbekistan since its joining to the Bank in 2003. In order to assist the Government of Uzbekistan in improving the existing education infrastructure in rural areas, IDB will provide financing of US$11.7m for construction and equipping of 13 secondary schools, and training 300 teachers in rural areas where about 3,000 secondary school students will be enrolled.
During the mission, the concept of MCPS was introduced to the Government of Uzbekistan which highly appreciated new programmatic approach of the IDB Group in development activity. IDB expressed its readiness and commitment to cooperate with the Government of Uzbekistan in formulation of sound MCPS for Uzbekistan upon completion of the country`s National Development Program (Welfare Improvement Strategy 2011-14).
Uzbekistan joined IDB in September 2003 and total country portfolio of operations comprises 22 operations for total amount of US$459m.