President of the Islamic Bank holds high-level meeting with H.E. Mr. Shavkat Mirziyoyev, the President of Uzbekistan

Tashkent, Uzbekistan, 20 September 2018 – Today, Dr. Bandar M.H. Hajjar, President of the Islamic Development Bank (IsDB), participated in a high-level meeting with H.E. Mr. Shavkat Mirziyoyev, the President of Uzbekistan. During the meeting, Dr Bandar Hajjar led discussions with on the impact of the IsDB’s social, economic, cultural and humanitarian projects in the country to date.

The meeting took place following the launch of the IsDB’s US$ 1.3bn Member Country Partnership Strategy (MCPS) for Uzbekistan, which will strengthen the Bank’s existing partnership with the country. The Republic of Uzbekistan joined the Islamic Development Bank in September 2003 and the IsDB has since provided significant development assistance, amounting to a total of US$1.9 billion. 

Dr. Bandar Hajjar, President of the Islamic Development Bank, said: “The MCPS was prepared in close consultation with the Government. It will help to modernize infrastructure and support sustainable socio-economic development that is rooted in Science, Technology and Innovation.”

The Bank’s current portfolio spans a number of sectors and is fully aligned with Uzbekistan’s development needs and priorities. The projects support: rural development and access to affordable rural housing; the agriculture sector; water supply and sewerage facilities reconstruction; health; education; transport; and the energy sector.

The Government of Uzbekistan has also undertaken comprehensive reforms to: improve the business and investment climate; strengthen regional cooperation; modify the agricultural sector; and encourage innovation and entrepreneurship.

H.E. Mr. Mirziyoyev, President of the Republic of Uzbekistan said: “The IsDB recently financed the Imam Al Bukhari International Scientific Research Centre established in Samarkand, which promotes the cultural heritage of the region and the contributions that Muslim scholars and scientists have made worldwide. The Centre will also facilitate the exchange of knowledge within the international research community and will strive to become one of the leading hubs for modern science and technology. I sincerely thank the Bank for its support.”

The Islamic Development Bank plans to continue backing projects and programs in Uzbekistan and will also scale up financing to forge private sector and public-private partnerships, enhance trade and promote Islamic finance.