Thursday, 23, September, 2021

The 46th annual meeting of the Board of Governors of the Islamic Development Bank is being held in Tashkent.

On September 2, the President Shavkat Mirziyoyev visited the forum.

At the beginning of the event, verses from the Koran were recited.

The head of state greeted the participants and made a speech on the current state and prospects of partnership with the IsDB.

- It is deeply symbolic that the annual meeting of the bank is being held in Tashkent. We consider this a recognition of Uzbekistan’ contribution to the development of the Islamic world, as well as the consistent reforms carried out in the country over the past five years, the President said.

The Islamic Development Bank Group was established in 1973. The headquarters is located in Jeddah, Saudi Arabia. Today, 57 states are members of the group, its authorized capital is $ 150 billion.

Uzbekistan became the member of the Bank in 2003. To date, 30 large investment projects have been approved worth over US$ 2.5 billion, which cover the construction of schools, affordable housing, roads, electricity and water supply networks, and healthcare facilities.

The President underscored that for many centuries the Uzbek land was one of the centers of the Islamic world, scientific and socio-economic development.

In follow-up of these traditions, a lot of work is being done in our country to preserve and further develop Islamic values. In particular, in recent years, the International Scientific School of Hadith named after Imam Bukhari, the Center for Islamic Civilization and the International Islamic Academy have been established, he added.

New schools and research centers have been built. Over the past five years, 64 new higher education institutions have been opened, bringing the total to 141. In cooperation with the United Arab Emirates, the One Million Programmers project provides youth with in-depth knowledge of information technology.

The head of state touched upon the issues of overcoming the economic and social consequences of the coronavirus pandemic. He thanked the Islamic Development Bank for the timely support of the anti-crisis measures of our country.

He noted that within the framework of the meeting, an agreement was signed on the creation of the US$ 500 million Uzbekistan Fund for Expanding Economic Opportunities. which will support projects aimed at reducing poverty and developing entrepreneurship.

Shavkat Mirziyoyev noted environmental problems in the region and drew the attention of bank managers to the issues of supporting the multi-partner Trust Fund under the auspices of the UN and the Zone of Environmental Innovations and Technologies being created in the Aral Sea region.

The efforts on expanding trade and economic ties in our region, strengthening the interconnectedness of the countries of Central and South Asia, and developing new transport corridors was emphasized.

Today the world is faced with problems related to climate change, large-scale migration processes, lack of natural resources and food. In this regard, the President made a number of proposals to improve the activities of the IsDB.

An initiative was put forward to create a trade and economic space "From West Africa to East Asia - Green Corridor". Its implementation will contribute to the expansion of trade and investment ties, convergence and sustainable growth of the economies of the countries.

He was pointed out to the need to expand financial instruments by the International Islamic Trade and Finance Corporation and the Islamic Corporation for Insurance of Investments and Export Credits. This will help stimulate free trade, insure investment risks, and develop transport and logistics infrastructure.

He emphasized that in the post-view period it is important to give an innovative character to the development of the economies of the member states. In particular, the full use of the capabilities of the Fund for Science, Technology and Innovation of the Islamic Development Bank, ensuring food security through the introduction of advanced developments in agriculture, the widespread use of renewable energy sources and environmental technologies are of topical importance.

The need to expand financing of investment and infrastructure projects of regional significance was also noted.

“Today's international forum will bring our partnership within the bank to a new level and make a significant contribution to the general well-being of the peoples of the member states,” Shavkat Mirziyoyev emphasized.

The annual meeting of the IDB Group will last until September 4.

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