Riyadh: Islamic Development Bank (IsDB) Group President Dr. 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.
According to Saudi Press Agency, the two sides also held discussions aimed at expanding cooperation between the IsDB and Uzbekistan, with a focus on accelerating high-impact initiatives that align with Uzbekistan's national development priorities.
The first agreement involves a $70 million phase of the IsDB's total $192 million commitment to rehabilitate the 4R40 Dashtabad-Zaamin-Bakhmal-Galyaaral road. This financing will support the reconstruction of 143 kilometers of the regional highway and the rehabilitation of 30 kilometers of local and rural roads in the Jizzakh Region. The project is designed to ease traffic congestion, improve road safety for over 200,000 people, enhance access to markets and social services, and boost the economic and tourism potential of the area.
The second agreement formalizes a $94.06 million phase of the IsDB's total contribution of $160.25 million to the SmartEd project. This initiative includes the construction and equipping of 58 new educational institutions and the addition of 2,431 classrooms to existing schools across Uzbekistan. It aims to establish a comprehensive competency-based education system benefiting approximately 72,930 students annually, while also providing specialized training for over 36,115 teachers and administrative staff.