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IDB allocates grant worth $ 270 mln to Uzbekistan

Business Materials 30 May 2013 09:54 (UTC +04:00)

Azerbaijan, Baku, May 29 / Trend A. Taghiyeva /

The Islamic Development Bank (IDB) has allocated a grant worth $ 270 million to Uzbekistan to implement the two projects, the bank said today.

According to the report, some $ 170 million of the allocated amount will be spent to purchase two Boeing aircraft. They will be bought as part of Uzbekistan Airways' development.

Moreover, IDB allocated $ 100 million to modernize two hydropower plants in Uzbekistan.

The grant agreement was signed by Uzbek First Deputy Prime Minister Rustam Azimov and IDB President Ahmad Mohammed Ali in Jeddah.

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