Arab Coordination Group holds meeting in Tashkent
19/09/2018 21:03
Arab Coordination Group holds meeting in Tashkent
19/09/2018 21:03
Tashkent, Uzbekistan (UzDaily.com) -- A round table with participation of the Arab Coordination Group (ACG) was held in the Hyatt Regency Tashkent Hotel on September 19.
The event, organized by the State Committee of the Republic of Uzbekistan for Investments, was attended by representatives of ministries, departments and commercial banks of the republic. This was reported by the press service of the State Committee for Investments.
On the eve of the event the conference "Day of the IDB Group" was held, where the IDB Partnership Strategy with the Republic of Uzbekistan for 2018-2021 was presented.
The Arab Coordination Group includes five such financial institutions as the Islamic Development Bank, the Saudi Development Fund, the Kuwait Fund for Arab Economic Development, the OPEC Fund for International Development and the Abu Dhabi Development Fund.
The participants of the ACG roundtable were greeted by Sukhrob Holmuradov, Deputy Prime Minister, Chairman of the State Committee of the Republic of Uzbekistan for Investments. Bandar Hajar, President of the Islamic Development Bank Group, made a welcoming speech.
The last meeting with members of the Arab Coordination Group in a round table format was held in October 2014 in Tashkent.
In cooperation with the Islamic Development Bank, 17 projects worth US$926 million were implemented in Uzbekistan including IDB loans for US$665 million, in such areas as: development of road infrastructure, communal services, irrigation, rural infrastructure maintenance projects , public health and education. Currently, 9 projects are being implemented for a total of more than US$1 billion, of which US$840 million is IDB resources.
In the period from 2000 to 2015, with the Kuwaiti Fund for Arab Economic Development (KFAER) 7 projects with investments amounting to more than US$90 million have been implemented in such areas as improving water supply in Nukus and Urgench cities, restoration of the irrigation network and drainage system in Djizak and Syrdarya regions, equipping the regional and city hospitals of the Republican Specialized Center for Cardiac Surgery with modern medical equipment.
At present, 4 projects are being implemented with KFAER, of which two projects are being implemented jointly with the Ministry of Health. The projects are aimed at equipping clinics and specialized educational institutions with medical equipment, including, in order to provide timely neurological and hemodialysis care to the population. Two other projects are aimed at developing engineering infrastructure in rural areas and reconstruction of roads. The amount of investment in these projects is US$100 million.
Together with the Saudi Development Fund, four projects have been implemented since 2006 with a total amount of more than US$150 million, of which the fund accounts for US$88 million. The number of projects implemented included: the construction and equipping of new buildings of general schools and housing construction in rural areas in Khorezm region and the Republic of Karakalpakstan. Today 6 projects are implemented for a total of about 395 million dollars aimed at reconstruction of the mainline, rehabilitation and improvement of the water supply and cascade of pumping stations, purchase and equipping hospitals and medical centers with medical equipment.
Since 2001, the OPEC Fund for International Development has implemented 5 projects for an investment amount of about US$40 million. Thanks to cooperation with the OPEC Fund, it was possible to modernize part of the Samarkand-Bukhara railway line, restore the irrigation network and drainage system in some regions. In addition, the OPEC Fund allocated a credit line for financing small and private businesses. At the implementation stage there are 2 projects to improve the water supply system in rural settlements.
Relations with the Abu Dhabi Development Fund began to be built in 2007, as part of a plenary meeting with the participation of ACG members in Tashkent.
During the round table, presentations were made of the state programs, realized in Uzbekistan. Further, representatives of the ministries and departments of Uzbekistan made presentations on promising investment projects in the fields of education, agriculture, health, housing and communal services.
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