Deputy Prime Minister of Uzbekistan elected Chairman of Board of Governors of IDB Group
Deputy Prime Minister of Uzbekistan, Minister of investment and foreign trade Sardor Umurzakov was elected Chairman of the Board of Governors of the Islamic Development Bank (IDB) Group.
Deputy Prime Minister of Uzbekistan, Minister of investment and foreign trade Sardor Umurzakov was elected Chairman of the Board of Governors of the Islamic Development Bank (IDB) Group.
"For the first time in the history of Uzbekistan, Sardor Umurzakov, Deputy PM was elected the Chairman of the Board of Governors of the Islamic Development Bank Group, the highest governing body of the bank," the message of the ministry of investment and foreign trade says.
In December 2020 the IDB approved the financing of two $509.2mn worth projects in Uzbekistan.
The first investment project worth $200mn provides for the improvement of infrastructure and social facilities in Karakalpakstan, as well as in Khorezm, Bukhara and Navoi regions.
The second investment project worth $80mn provides for a comprehensive modernization of medical services to patients with cancer.
The IDB Group includes the Islamic Development Bank, the Islamic Private Sector Development Corporation, the International Islamic Trade and Finance Corporation, the Islamic Investment and Export Credit Insurance Corporation, and the Islamic Institute for Research and Training. It was founded in 1974 in Jeddah (Saudi Arabia).
Last October, Umurzakov was also elected Deputy Chairman of the Board of Governors of the European Bank for Reconstruction and Development.
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