TASHKENT, Uzbekistan, February 11. The Islamic Development Bank (IsDB) has signed a $94.06 million financing agreement with Uzbekistan to advance the SmartEd education development project, Trend reports via the bank.
The agreement was signed during the 2nd AlUla Conference for Emerging Market Economies between IsDB President Muhammad Al Jasser and Uzbekistan’s Deputy Prime Minister and Minister of Economy and Finance Djamshid Kuchkarov.
This financing marks a significant phase of the IsDB's total commitment of $160.25 million to the SmartEd Project, which seeks to strengthen inclusive and competency-based education throughout Uzbekistan.
As part of this initiative, Uzbekistan plans to construct and equip 58 new educational institutions and expand existing schools by adding 2,431 classrooms across the country.
The project is expected to directly benefit approximately 72,930 students annually and provide specialized training to more than 36,115 teachers and administrative personnel.
To date, the IsDB has approved a total of $5.4 billion in financing for Uzbekistan, underscoring the breadth and strategic importance of the bank’s support for the country’s long-term development.