$ 270 m IDB deals to boost ventures in Uzebekistan
Uzbekistan's First Deputy Prime Minister and Minister of Finance of Rustam Azimov signed two agreements with the Islamic Development Bank (IDB) to finance purchase of two Boeing aircraft for the Uzbekistan Airways ($ 170 million) and for modernization of hydropower stations ($ 100 million).
Azimov was accompanied by a senior delegation comprising Saidakhmat Rakhimov, chairman of the National Bank of Uzbekistan for Foreign Economic Activity, and Egambergen Palvanov, first deputy director-general of Uzbekistan Airways.
During the meeting with IDB Group President Ahmed Mohamed Ali, Azimov lauded IDB’s developmental role and stated that the agreement signing is reflective of the ongoing partnership between his country and the IDB.
"I am proud that other developing nations are recognizing the growing role of the IDB," Azimov said, adding that Uzbekistan will be relying more on IDB for the structural reforms in the country. Referring to the last week’s decision by the IDB board of governors at its 38th annual meeting in Dushanbe, Tajikistan, to triple the capital of the bank, Azimov called the decision a wise one and reiterated that "Uzbekistan looks forward to further strengthening its partnership with the IDB."
The IDB Group president expressed the bank’s preparedness to cooperate with all member countries and to provide the best support to see increased development of partnership with Uzbekistan.