ALULA: Islamic Development Bank Group President Muhammad Al-Jasser and Uzbekistan’s Deputy Prime Minister and Minister of Economy and Finance Jamshid Kuchkarov signed financing agreements to support key infrastructure and social development projects on the sidelines of the Second AlUla Conference on Emerging Market Economies.
The two sides also held talks to expand cooperation between the IsDB and Uzbekistan, focusing on accelerating high-impact initiatives aligned with Uzbekistan's national development priorities.
The first agreement covers a $70 million phase of the IsDB’s total $192 million commitment to rehabilitate the 4R40 Dashtabad–Zaamin–Bakhmal–Galyaaral road.
The financing will support the reconstruction of 143 km of the regional highway and the rehabilitation of 30 km of local and rural roads in Jizzakh Region.
The project aims to ease traffic congestion, improve road safety for more than 200,000 people, enhance access to markets and social services, and boost economic and tourism potential.
The second agreement formalizes a $94.06 million phase of the IsDB’s total contribution of $160.25 million to the SmartEd project.
The initiative includes the construction and equipping of 58 new educational institutions and the addition of 2,431 classrooms to existing schools across Uzbekistan.
It seeks to establish a comprehensive competency-based education system benefiting approximately 72,930 students annually, while providing specialized training for more than 36,115 teachers and administrative staff.
Al-Jasser reaffirmed the IsDB's commitment to supporting Uzbekistan’s development through results-focused cooperation, according to a statement.
Kuchkarov welcomed the continued partnership, highlighting the importance of sustained investment in connectivity and human capital to ensure long-term, resilient growth, the IsDB release added.
In December, the IsDB approved a new package of projects totaling approximately $1.36 billion to support 12 member countries, including Uzbekistan.
The Islamic development finance institution allocated a total financing of $110 million for photovoltaic solar and battery storage projects at the Samarkand I and Samarkand II facilities, enhancing the capacities of the national grid.
