BAKU, Azerbaijan, Sept. 2
By Fakhri Vakilov – Trend:
The Islamic Development Bank (IDB), Saudi Arabia, and Uzbekistan signed an agreement to establish a $500 million economic empowerment fund, Trend reports citing Uzbek media.
Uzbekistan’s President Shavkat Mirziyoyev made this announcement at the opening of the annual meeting of the Board of Governors of the IDB.
The head of state noted that the new project will support the efforts of the government of Uzbekistan to reduce poverty and develop entrepreneurship in the country.
“We express our gratitude to the Islamic Development Bank and Saudi Arabia for signing an agreement on the establishment of a fund within the framework of this conference,” the President said.
The fund's capital is expected to reach $500 million and will serve to create the necessary conditions for attracting youth, women, and the rural population to entrepreneurship.
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