AlUla, Kingdom of Saudi Arabia, 8 February 2026 – On the sidelines of the 2nd AlUla Conference for Emerging Market Economies, H.E. Dr. Muhammad Al Jasser, President of the Islamic Development Bank (IsDB), and H.E. Dr. Djamshid Kuchkarov, Deputy Prime Minister and Minister of Economy and Finance of the Republic of Uzbekistan, signed financing agreements to advance critical infrastructure and social development.

Ahead of the signing, the two leaders held bilateral talks to discuss the expansion of the IsDB–Uzbekistan partnership, focusing on deepening cooperation and accelerating high-impact initiatives aligned with Uzbekistan’s national development goals.

The first agreement represents a US$70 million phase of the IsDB’s total US$192 million commitment for the Reconstruction of the 4R40 Dashtabad–Zaamin–Bakhmal–Galyaaral Road Project. This financing will support the reconstruction of 143 km of the 4R40 regional highway and the rehabilitation of 30 km of local and rural roads in the Jizzakh Region.

This initiative is designed to eliminate transit bottlenecks and improve safety for 200,000 residents. By modernizing this vital feeder route for the M39 international corridor, the project will enhance access to markets and social services while unlocking the economic and tourism potential of the region.

The second agreement formalizes a US$94.06 million phase, which is part of the IsDB’s total US$160.25 million contribution, for the SmartEd Project.

The SmartEd project will build and equip 58 new educational institutions and add 2,431 classrooms to existing schools across the Republic. The project focuses on establishing an inclusive, competency-based learning system that will benefit 72,930 students annually and provide specialized training for over 36,115 teachers and administrative staff.

H.E. Dr. Muhammad Al Jasser reaffirmed the Bank's commitment to supporting Uzbekistan’s development through results-focused cooperation. H.E. Dr. Djamshid Kuchkarov welcomed the continued partnership, highlighting the importance of sustained investment in connectivity and human capital to ensure long-term, resilient growth.