The IDB funds will be directed to implementation of the Efficient Outdoor Lighting for Tashkent City Project, which was initiated by the Tashkent city administration and Toshshaharnur (Tashkent city light).

The project is aimed at raising efficiency of outdoor lighting network in Tashkent city, capital of Uzbekistan.

The project implementation will allow to cut electricity consumption at outdoor lighting of Tashkent city and CO2 emission.

The project will also allow to improve outdoor lightening of cities of the city and increase capacity of roads, as well as introduce energy saving and harmless lighting sources in the city.

Islamic Development Bank (IDB) was founded on 18 December 1973 at the session of the Ministers of Finance of the Organization of Islamic Conference and started its activities in October 1975. The IDB headquarters are located in Jeddah, Saudi Arabia. The bank created three regional offices in Rabat, Kuala Lumpur and Almaty, as well as 11 offices. IDB was created as an intergovernmental credit organizations, members of which are Muslim countries.

Uzbekistan started cooperation with the IDB in 1992, when the bank allocated US$1.4 million grant to Muslims Board of Uzbekistan. During the visit to Iran, the Uzbek President Islam Karimov met the President of IDB Ahmad Muhammad Ali. The sides considered issues of accession of Uzbekistan to the IDB, perspectives of cooperation, development of interaction between the IDB and financial institutes of Uzbekistan.

At the 28th annual meeting of IDB Group in Almaty in September 2003, Uzbekistan was accepted to the IDB as full-fledged member. Within the 29th annual session of the IDB Governors’ Council (Tehran, 2004), Uzbekistan became member of the Islamic Corporation for the Development of the Private Sector (ICD). The ICD actively participate in financing private sector, rendering consulting services both public and private sector in implementation of programme on privatizing and restructuring of the companies.

Main direction of the activities is long-term crediting and rendering technical assisting for implementing development projects in such areas as agriculture, irrigation and land-reclamation, education, healthcare, water supply, development of infrastructure, providing credit lines to small and private businesses, etc.

IDB allocated US$463.8 million to implementation of 15 projects in Uzbekistan in such areas as healthcare, education, development of road infrastructure, support of small businesses. Currently, the sides are implementing a programme for 2011-2013, which stipulates implementation of 11 projects worth US$655.5 million.