The IDB leader has been visiting Uzbekistan to attend the international conference “Modern Housing Construction as an Engine of Integrated Development and Transformation of Rural Areas, Improvement of Living Conditions of the Population”.

Greeting the guest, the head of our state noted that Uzbekistan highly values the resourceful efforts undertaken by the IDB directed at securing sustainable development and stability in member nations through the support of critical social and economic programs and projects.

Islam Karimov stressed in particular the special significance attached by Ahmad Mohamed Ali as a chief of an eminent international financial institution to boosting the cooperation with our country. The Uzbek leader expressed appreciation of the IDB chief’s enthusiastic support for Uzbekistan’s initiatives in a variety of spheres. This attitude, according to the head of our state, along with IDB President’s continuous participation in international conferences held in this country to discuss pressing current trends with his speeches addressing forum topics with keen insight and comprehensive analysis – are considered in Uzbekistan a manifestation of the Arab world’s highest respect and acknowledgement toward this land.

Ahmad Mohamed Ali, in his turn, said that every time he travels to Uzbekistan, he witnesses tremendous transformation, the remarkable results of the aspiration for progress, and the outcomes of gracious new initiatives. As the high-ranking guest underscored, the accomplishments being made by Uzbekistan across all walks of life have been considerable owing to the sound policies spearheaded by President Islam Karimov. In the past, Uzbekistan was known primarily as a cotton-producing land, the IDB leader noted, and crude cotton accounted for the bulk of its exports, whereas the current share of cotton in the nation’s exports does not exceed 10 percent. That Uzbekistan has turned into a country that exports ready goods, including automobiles, as a result of cardinal reforms in the economic realm, deserves admiration. The program of standard-design housing construction in rural areas of Uzbekistan has been a great idea and a noble initiative, which testifies time and again to the fact that President Islam Karimov is a leader of vision, the IDB principal said. The expertise of this country in the given sector can be a model for other nations of the region or even the globe in general. Thus, Ahmad Mohamed Ali suggested, the current international conference serves these goals, as well.

This year our country celebrates the tenth anniversary of relations with the IDB. A high level of mutual understanding has been achieved for the past period along with a solid interaction base packed with a whole range of successful projects.

As part of cooperation with so prominent a financial institution, ten schemes totaling US$186.4 million have been completed. Another ten projects worth US$640.9 million are currently in progress. Nine other schemes for US$877.9 million have been arranged and pending implementation.

In addition, as part of technical assistance from the IDB, grants worth US$2.7 million have been earmarked to Uzbekistan for the realization of twelve projects.

During the IDB President’s current visit to Uzbekistan, a financial agreement has been signed within the scheme “Modernization and Introduction of Energy-Efficient Technologies in the System of Street Lighting Networks in the City of Tashkent” for US$36 million.

The Islamic Development Bank plays a key coordinating role in the attraction of investments and loans from financial institutions of the Arab Coordination Group, including the Saudi Fund for Development, the Kuwait Fund for Arab Economic Development, the OPEC Fund for International Fund and the Abu-Dhabi Fund for Development for the implementation of projects in modernization, technical and technological re-equipment of the manufacturing industry and infrastructure facilities.

An important dimension of cooperation with IDB Group is the execution of schemes with the Islamic Corporation for the Development of Private Sector aimed at promoting small business and private entrepreneurship. The sum total of loans provided by the Corporation to fund small business schemes reaches 83 million US dollars.

During the talks at the Oqsaroy, the parties discussed prospects of bilateral relations and issues concerning the elaboration and implementation of new projects of shared interest.

Ahmad Mohamed Ali expressed sincere gratitude to Islam Karimov for a warm welcome and confirmed the IDB’s willingness to continue bolstering the fruitful cooperation with Uzbekistan.