On the sidelines of the second AlUla Conference for Emerging Market Economies, the Islamic Development Bank (IsDB) and Uzbekistan have signed major financing agreements to boost infrastructure and social development.

IsDB President Dr. Muhammad Al Jasser and Uzbekistan’s Deputy Prime Minister and Minister of Economy and Finance Djamshid Kuchkarov formalized two key deals targeting transport and education, The Caspian Post reports via Kazakh media.

The first allocates $70 million for the Dashtabad-Zaamin-Bakhmal-Galyaaral Road Project, part of IsDB’s $192 million commitment. It will modernize 143 km of highways and rehabilitate 30 km of rural roads in Jizzakh Region, improving safety and connectivity for 200,000 residents and boosting tourism and local economies.

The second provides $94.06 million for the SmartEd Project, within IsDB’s $160.25 million contribution. The program will build and equip 58 schools, add 2,431 classrooms, serve 72,930 students annually, and train over 36,000 teachers and staff.

Both sides emphasized deepening cooperation, with Dr. Al Jasser focusing on results-driven support and Kuchkarov highlighting long-term investments in connectivity and human capital.