Uzbekistan plans to attract large volume of investments from Arab Financial Institutions, Foreign Economic Relations, Investments and Trade Minister of Uzbekistan Elyor Ganiyev told at the meeting of the Arab Coordination Group today.

He said that Uzbekistan plans to attract around US$1.6 billion of investments by 2011 of the Arab financial institutions

Arab Coordination Group includes the Islamic Development Bank, Abu Dhabi Fund and OPEC International Development Fund, Saudi and Kuwait Economic Development Funds. Its session is being held in the capital of Uzbekistan on 3-5 July.

It is supposed to attract the funds for the implementation of 25 investment projects taking into account the peculiarities of the Islamic banking that foresees sharing revenue instead of collection of loan interests.

Uzbekistan pursuing economic reforms attracts foreign investments relying, first of all, on cooperation with Russia and Asian states and international financial institutes.