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07/07/11 - On the participation of the Uzbek delegation in the meeting of IDB Board of Governors

posted 15 Jan 2012, 04:59 by Ambasciata Uzbekistan
On June 28-30, 2011 the delegation of the Republic of Uzbekistan participated in a regular 36th Annual Meeting of the Board of Governors of the Islamic Development Bank (IDB) in Jeddah, Saudi Arabia.

During the meeting, the sides discussed the outcome reports of the IDB committees’ activities in 2010-2011, issues of timely and effective realizations of the investment projects and technical assistance programs approved by the IDB, and the appropriate decisions were adopted.

Uzbekistan joined the IDB in 2003 and became its 55th member. So far in the framework of cooperation between Uzbekistan and the IDB, 15 projects for 464 million USD have been implemented. The projects cover such sectors as equipment regional centers with ambulances, construction of high-voltage electricity supply lines, building public educational schools and vocational colleges, highways construction, financing of small and private businesses, assisting to reform the management of public finances and more.

The Uzbek delegation also held a meeting with the IDB President Ahmad Mohamed Ali, during which the sides discussed the prospects of bilateral cooperation. As a result of the meeting the sides signed a Cooperation program for 2011-2013, providing 11 investment projects by IDB in Uzbekistan for the amount of 655.5 million USD in total.

In the framework of the participation in the event, the Uzbek delegation held bilateral meetings with the heads of delegations of Saudi Arabia and Oman.

On the outcomes of the talks with the Finance Minister of The Kingdom of Saudi Arabia Ibrahim Al Assaf the sides signed an agreement with Saudi Fund for Development to provide 30 million USD soft loan to implement the project for the Guzar-Chim-Kukdala highway reconstruction.
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