Islamic Development Bank will allocate $ 1.3 billion to Uzbekistan between 2018 and 2021, a Kun.uz correspondent reports.

The corresponding accord was signed on Tuesday by Deputy Prime Minister, Chairman of the State Committee for Investments of Uzbekistan Sukhrob Holmuradov and President of IDB Bandar Hajjar in Tashkent.

“The Islamic Development Bank (IDB) and the government of Uzbekistan signed a cooperative strategy for 2018-2021, which envisages provision of $ 1.3 billion to Uzbekistan,” the report said.

Out of the total money allotted, $ 475 million will be spent on energy, transport and urban development, $ 300 million on housing and infrastructure in rural areas, $ 300 million on trade finance, $ 140 million on social development and $ 85 million on private business projects.

It should be reminded that the President of the Islamic Development Bank Bandar Hajjar is on an official visit in Uzbekistan from September 17 to 20. Within the framework of his visit number of events are scheduled. “IDB Group Day”, a conference, is one of them. It was held on Sept. 18, at the International Hotel Tashkent with the participation of ministries, representatives of the private sector, diplomatic corps, international financial institutions and other relevant organizations of Uzbekistan.