General view related to the report. Photo: UzA.
The Islamic Development Bank (IsDB) and the government of Uzbekistan have signed two agreements under which the international financial institution will provide the Central Asian republic with $70 million for road reconstruction and more than $94 million for the construction and equipping of schools, the bank’s press service reported.
The documents were signed in AlUla, Saudi Arabia, on the sidelines of the second conference of emerging market countries. The agreements were endorsed by IsDB President Muhammad Al Jasser and Uzbekistan’s Deputy Prime Minister and Minister of Economy and Finance Jamshid Kuchkarov.
The sides also held talks on expanding cooperation between the financial institution and the republic, with particular attention to accelerating initiatives aimed at Uzbekistan’s sustainable development.
One of the agreements governs the implementation of a road modernization project in Jizzakh Region. At the first stage, the bank will allocate $70 million out of a total financing package of $192 million. The funds will be used to reconstruct the Dashtabad–Zaamin–Bakhmal–Gallyaaral highway. According to the plans, specialists will repair 143 kilometers of the main roadway and restore another 30 kilometers of rural roads.
The project is intended to reduce traffic congestion and improve safety for the 200,000 people living in the area. In addition, upgrading the access road to the international M39 corridor is expected to improve access to markets and social services and unlock the region’s economic and tourism potential.
The school construction and renovation initiative was first announced a year ago. IsDB and Uzbekistan have now formalized the first phase of the project, under which the bank will provide $94.06 million out of a total of $160.25 million.
The plans call for the construction and equipping of 58 new schools and an additional 2,431 classrooms across the country, enabling about 73,000 children to study in improved conditions. The initiative also includes training courses for more than 36,000 teachers and administrative staff in educational institutions.
At the signing ceremony, IsDB President Muhammad Al Jasser reaffirmed the bank’s commitment to supporting Uzbekistan through results-oriented partnerships. Kuchkarov, in turn, emphasized the importance of sustained investment in transport infrastructure and human capital to ensure long-term, sustainable development.
