Islamic Development Bank Approves Financing of USD 509.2 Million for Economic Projects for Uzbekistan

Islamic Development Bank (IsDB) has approved USD 509.2 million in financing for two large-scale projects of economic significance in Uzbekistan on the 19th of December 2020, according to local media reports.

The first project, worth USD 200 million will facilitate the modernisation of several infrastructures and social facilities in Karakalpakstan, Khorezm, Bukhara, and Navoi regions of Uzbekistan. Set to improve the living conditions of over 710,000 people, the project involves the construction and reconstruction of water supply systems, roads, low-voltage power lines, irrigation and drainage networks, as well as educational, medical and other facilities.

IsDB will also provide USD 80 million in financing for the implementation of the second phase of the improvement...