IDB finances $180 million in projects in Uzbekistan

December 16, 2010

The Jeddah-based Islamic Development Bank (IDB) recently signed financing agreements with the government of Uzbekistan for two projects worth $180 million.

First, the IDB will extend a record $167.2 million for the reconstruction and upgrading of the M-39 Road in the Surkhandarya region, the biggest IDB endeavor in Uzbekistan to date. Second, the IDB will provide $11.7 million in financing for the construction and equipping of 13 secondary schools and the training of 300 teachers in rural areas, where about 3,000 secondary school students will be enrolled.

Uzbekistan joined the IDB in September 2003 and its country-portfolio includes 22 operations costing $459 million.