Cooperation Priorities Discussed with the President of the Islamic Development Bank

The meeting was attended by Rami Ahmad, IsDB Vice President for Operations; Nodirbek Ochilov, Deputy Chairman of the Central Bank of the Republic of Uzbekistan; Jasur Karshibayev, Adviser to the Minister of Economy and Finance; and other relevant officials.

The discussions focused on priority areas of mutually beneficial cooperation, support for the economic reforms underway in Uzbekistan, the development of key sectors of the economy, and opportunities to advance promising projects in cooperation with the Bank.

Particular attention was paid to projects aimed at modernizing agriculture and expanding access to modern agricultural machinery and equipment. The parties also exchanged views on prospective projects related to irrigation system development, road infrastructure and rural infrastructure improvement, financial support for the mortgage market, and agricultural financing.

As part of the meeting, an agreement was signed with the Islamic Development Bank for the Agricultural Mechanisation Development Project. The project aims to expand access to modern, efficient, and climate-smart agricultural machinery in Uzbekistan, increase productivity, improve resource efficiency, and promote the development of agricultural value chains.

The parties also discussed support for small and medium-sized enterprises (SMEs), the development of Islamic finance instruments, and opportunities to expand their application within the financial sector. Additionally, they considered the development of financing mechanisms such as Murabaha and Ijarah.

At the conclusion of the meeting, the parties agreed to further strengthen their cooperation and pursue systematic and effective efforts to achieve the objectives outlined in the discussions.